EURUSD Daily Analysis – June 12, 2020

EURUSD broke below the rising trend line on the 4-hour chart, suggesting that lengthier consolidation for the uptrend from 1.0766 is underway. Range trading between 1.1240 and 1.1422 would likely be seen in a couple of days. As long as 1.1240 support holds, the upside movement could be expected to resume, and further rise to 1.1500 area is still possible. On the downside, a breakdown below 1.1240 support would indicate that the upside movement had completed at 1.1422 already, then the pair would find support at around 1.1150.

EURUSD 4-hour chart