12:07 PM · 14 August 2020

EURUSD breaks back above 1.18 handle

Looking at the H1 interval, one can see that EURUSD has been trading in a sideways move recently. However looking at the H1 chart in near term, the 1.1800 handle looks to be the key support for now. As long as the price sits above, the further move toward resistance at 1.19 is the base case scenario. But if the pair breaks back below 1.18, the lower limit of the consolidation range at 1.1715 could be at risk. One should be aware that the market may become more volatile once US data (retail sales for July) is released at 1:30 pm BST.

EURUSD H1 interval. Source: xStation5

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