EURUSD Moving in Narrow Range: Key Levels and Possible Scenarios

In today’s Forex scenario, EURUSD seems to be making modest moves, lying low in a narrow range between 1.0844 and 1.0910.

Provided the 1.0910 resistance holds firm, we might treat the ongoing sideways movement as a consolidation phase for the downtrend that stemmed from 1.0995. After the consolidation, we could expect further decline, with the next target nestled at the 1.0800 zone, followed closely by the 1.0723 support line.

However, things could turn more promising on the upside. A breakout beyond the 1.0910 resistance would suggest that the previous downturn from 1.0995 has reached its conclusion at 1.0844. This would then pave the way for another hike towards the 1.0998 resistance line.