EURUSD RANGE BOUND TRADING PERSISTS

The euro currency is confined to range-bound trading conditions against the US dollar after buyers failed to break the 1.1730 resistance level for a fourth consecutive day. Sellers need to break the 1.1650 support level with conviction while buyers need to break the 1.1730 level. A bullish ascending triangle pattern has also now been formed across the lower time frames.

• The EURUSD pair only bullish while trading above the 1.1700 level, key resistance remains at the 1.1730 and 1.1750 levels.

• If the EURUSD pair moves below the 1.1650 level, key support is found at 1.1617 and 1.1600 levels.