EURUSD Daily Analysis – August 11, 2020

EURUSD remains in the uptrend from 1.1168 (Jun 19 low), the price action in the trading range between 1.1695 and 1.1916 is likely consolidation for the uptrend. As long as 1.1695 support holds, the upside movement could be expected to continue and next target would be at 1.2000 area. On the downside, a breakdown below 1.1695 support would indicate that the upside movement had completed at 1.1916 already, then the pair would find next support level at around 1.1450.

EURUSD 4-hour chart