EURUSD Holds Steady Above 1.1800

By Orbex

The euro currency managed to recover from the declines on Monday. Price action made a quick recovery after testing the lower support near 1.1800.

However, the upside gains are stalling near the trend line. This could keep price action contained for the moment.

Only a strong breakout above the trend line will see further gains coming.

But the resistance level of 1.1900 is also weighing on the common currency.

As a result, we could expect the EURUSD to hold on to its sideways range for the moment between 1.1900 and 1.1800.

By Orbex