EURUSD Sees Recovery Within Consolidation Range

5 October 2016, 14:31

EURUSD: The pair continues to face consolidation risk after closing marginally lower on Tuesday. It follow through on recovery within its range is now underway. Support lies at the 1.1200 level. Further down, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. Conversely, on the upside, resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level. Further up, resistance lies at the 1.1400 level where a break will expose the 1.1450 level. All in all, EURUSD remains trapped in a range but with upside bias. 


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