EURUSD Daily Analysis – August 13, 2020

EURUSD failed to break below 1.1695 support and continued its sideways movement in a trading range between 1.1695 and 1.1916. As long as 1.1695 support holds, the sideways movement could be treated as consolidation for the uptrend from 1.1168 (Jun 19 low), and another rise towards 1.2000 could be expected after the consolidation. 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