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- EUR/USD Price Analysis: Scope for further consolidation
EUR/USD Price Analysis: Scope for further consolidation
- EUR/USD clings to daily gains above the 1.1000 mark on Friday.
- The pair looks supported around 1.0960 so far.
EUR/USD reverses the recent weakness and manages to advance to the 1.1040 area, where some decent resistance seems to have turned up.
Further range bound looks likely amidst the ongoing alternating risk appetite trends, with the lower bound emerging around 1.0960 and gains limited by the 1.1140 area.
The medium-term negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1505.
EUR/USD daily chart
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