EURUSD moved sideways in a range between 1.1809 and 1.1961. As long as 1.1809 support holds, the sideways movement could be treated as consolidation of the uptrend from 1.1554 and another rise towards 1.2092 (Sep 8 high) is still possible after the consolidation. Near term resistance is at 1.1961, a breakout of this level could signal resumption of the uptrend. On the downside, a breakdown below 1.1809 support will indicate that the uptrend had completed at 1.1961 already, then deeper decline towards 1.1712 could be seen. Below this level could trigger further downside movement towards 1.1554, followed by the resistance-turned-support trend line on the weekly chart now at around 1.1390.
