EUR/USD Technical Analysis: within a consolidative theme underpinned by 10-day/21-day SMA.

• Spot comes back to the 1.1740 region after Monday’s bullish move to the 1.1800 neighbourhood lacked of follow through.
• The pair’s outlook, however, remains constructive while above the 1.1670/58 band, where converge the 10- and 21-day SMA. Above here, the door remains open for a test of the key area in the mid-1.1800s, where sit June’s peaks and the 38.2% Fibo retracement of the April-May down move.
• On the downside, hourly lows in the 1.1730 region should offer interim contention ahead of 1.1718 (December 2017 low).
• Daily RSI (14) stays around 54 for the time being, also indicative of a consolidative phase.

Daily high: 1.1763

Daily low: 1.1732

Support Levels

S1: 1.1725

S2: 1.1700

S3: 1.1667

Resistance Levels

R1: 1.1784

R2: 1.1816

R3: 1.1842