EUR/USD continues to consolidate
Much like the hesitancy in major indices, EUR/USD weakness has paused over the past 24 hours. However, a continuation of this weakness does seem the most likely option here as we look towards the 76.4% retracement as a key support level in view (1.1214).
Price is currently attempting to break through the 1.1250 support level, which would subsequently look towards yesterday’s low of 1.1234 as the next near-term support level. A bullish view would only come back into play with a closed hourly candle above 1.1295.
This would subsequently look towards 1.1310 and 1.1335 as the next resistance levels. Bear in mind that we would need to see a break below 1.1144 to signal an end to the medium-term uptrend.