EUR/USD Technical Analysis
The EUR/USD pair is currently trading at 1.1750, showing signs of consolidation after recent gains. The pair has been moving in a sideways range between 1.1720 and 1.1780, with the 50-day moving average acting as a support level.
Technical indicators suggest that the pair may continue to consolidate in the near term, with the RSI holding steady around the 50 level. However, a break above the 1.1780 resistance could signal a bullish continuation towards the next resistance level at 1.1820.
On the downside, a break below the 1.1720 support could lead to a retest of the 1.1700 level. Overall, the EUR/USD pair remains in a consolidation phase, with traders waiting for a clear breakout in either direction to establish a new trend.