EUR/USD touched an intraday high around 1.1780 just below the resistance at 1.1785 and now trading around 1.1739 after broke yesterday’s low. We expect a sideways movement in between 1.1785 and 1.1720 range before the US data release later in the day. An hourly close above 1.1785 may further add buy orders and lead price to the next resistance around 1.1820. On the other hand a break below 1.1720 will drag price to the Aug.17 low at 1.1661 in the near term.
Support: 1.1720, 1.1680 & 1.1661.
Resistance: 1.1785, 1.1820 & 1.1860/80