EURUSD Forecast

The EURUSD didn’t make significant movement yesterday. The bias is neutral in nearest term. Overall price still in consolidation phase with range area between 1.3438 – 1.3170. Short around 1.3438 or long around 1.3170 seems to be the best strategy for now, until we have a clear break on either side to see clearer direction. I still prefer a bearish scenario after the false breakout, but would need a clear break below 1.3170 to see further bearish validation testing 1.3100 – 1.3060 and 1.2968. Immediate resistance at 1.3338. Clear break above that area could trigger further upside pressure re-testing 1.3438. Immediate support at 1.3230.  Break below that area could trigger further downside pressure re-testing 1.3170.

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