EURUSD Daily Analysis – August 14, 2020

EURUSD is forming a sideways consolidation in a trading range between 1.1695 and 1.1916. As long as 1.1695 support holds, the upside movement from 1.1168 (Jun 19 low) could be expected to resume, and further rise to 1.2000 area is possible. However, a breakdown below 1.1695 support would indicate that the upside movement had completed at 1.1916 already, then next target would be at 1.1450 area.

EURUSD 4-hour chart