EURUSD price action consolidates
The euro continues to consolidate around the 1.1400 level against the US dollar, with the pair trading in an increasingly narrow range. The Average True Range indicator has slumped lower across the four-hour time frames, highlighting the lack of direction and volatility in the EURUSD pair at present. The MACD indicator on the mentioned time frame is gradually correcting from oversold conditions.
The EURUSD pair is bearish while trading below the 1.1400 level, key technical support remains at the 1.1360 and 1.1300 levels.
If the EURUSD pair moves above the 1.1410 level, buyers may be encouraged to test the 1.1430 and 1.1460 resistance levels.