EUR/USD Update – 19/09/2017 (11:30am) – by Arjun Lakhanpal

EUR/USD Update – 19/09/2017 (11:30am): A range breakout between 1.2032 and 1.1823 is needed for directions  Following the latest failure to clear 1.2099/1.2177 (int. 38.2 % on 2 scales) the market started retreating last week, but keeps on defending key-support at 1.1830/23 (daily trend/last intra-day low) so far. That said, it now takes a range breakout between 1.1823 and 1.2032 (minor 76.4 %) to either support a straight re-test of the main resistance barriers between 1.2099/1.2177 and 1.2329 (2008 low) or a deeper setback to 1.1510/1.1481 (int. 38.2 % on 2 scales) and possibly at 1.1427 (weekly trend).