•EUR/USD Consolidating between 1.2092 and 1.1825 for the last 21 days and presents a neutral stance in the daily chart. The pair now trading around 1.1933.
•The market has learned that the ECB will likely refrain to begin tapering its QE program if the price of the pair surpasses the 1.2000 level.
•The price remains far above its 100 and 200 DMAs, keeps the long term risk towards the upside.
•Near term intraday support is around 1.1875 (H4 200 SMA & trend line joining 1.13116 and 1.13705) and any break below will drag the pair down till 1.18223 (Aug 31st 2017 low) and1.1800.
•Resistances around 1.1955, 1.2000 & 1.2033.