EURUSD Daily Analysis – August 17, 2020

EURUSD 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 a breakout of 1.1916 resistance could trigger further upside movement towards 1.2000. 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 at around 1.1450.

EURUSD 4-hour chart