EUR/USD Technical analysis

Source: Dukascopy Bank SA
Price is stuck moving sideways between well-defined support and resistance levels. The price has been oscillating for a prolonged period, with main resistance at the 1.1687 level and primary support at 1.1580. The moving averages confirm this trendless state, as they are flat and intertwined with the price, offering little directional information.



The RSI is currently below 50, which reflects the recent downward move from the top of the range. The most probable outcome is that the price will continue to move between these boundaries, with the current decline targeting the 1.1580 support. This neutral outlook will remain in place until the price decisively breaks out, either above the 1.1687 resistance or below the 1.1580 support.
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