EURUSD Daily Analysis – September 16, 2016

EURUSD moved sideways in a narrow range between 1.1198 and 1.1285. As long as 1.1285 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.1326, and further decline to 1.1000 area is possible after consolidation. On the upside, a break of 1.1285 resistance will indicate that the uptrend from 1.1123 has resumed, then the following upward movement could bring price to 1.1400 zone.

eurusd chart