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EURUSD Trades Flat As It Fails To Clear 1.1261

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The euro currency is holding on to a sideways pattern. Price action once again attempted to breakout above 1.1261 level of resistance.

But failing to breakout higher is keeping the currency pair subdued. A smaller range is forming with the lower end at 1.1205.

Following this consolidation, we expect the euro currency to potentially breakout. The bias is mixed for the moment, given the consistent lower highs that are forming.

As a result, this opens the downside in EURUSD towards the 1.1132 level of support.

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Source: https://www.orbex.com/blog/en/2020/07/eurusd-trades-flat
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