EUR/USD starting to flounder around key resistance
EUR/USD has managed to push back towards the top end of the recent range formation, with the pair remaining within the wider $1.1602-$1.1920 range that has dominated since the beginning of September. With the pair slowing its ascent, there is a good chance we will soon turn lower once again to maintain this range.
The decline into $1.1814 on Thursday highlights the slowing ascent, with the pair continuing to struggle with the $1.1893 level since. As such, it could be worth watching for a bearish reversal signal with a break below the $1.1814 level. To the upside, we would need to break through the $1.1920 level to bring about a bullish continuation signal.