EUR/USD Technical Analysis: Consolidative near term. A test of 1.1508 remains on the cards

• EUR/USD is prolonging the rangebound theme so far this week, always amidst the generalized lack of direction in the global markets.
• In the meantime and while above the 1.1508 level, the pair keeps alive another potential test of the 1.1745/50 band ahead of 1.1790. If cleared, a visit to June’s peak at 1.1853 should be back on the radar.
• Looking south, a breakdown of the 1.1500 neighbourhood should accelerate the downside and allow for a test of 1.1299, YTD lows so far.

EUR/USD daily chart

Daily high: 1.1609

Daily low: 1.1569

Support Levels

S1: 1.1566

S2: 1.1526

S3: 1.1487

Resistance Levels

R1: 1.1645

R2: 1.1684

R3: 1.1724