Technical analysis
The Relative Strength Index has turned bullish on the daily time frame for the first-time since early June this year and continues to hold above 50.
The EURUSD pair still has bullish MACD price divergence extending up to 1.1975. This increases the chances of further medium-term upside for the EURUSD pair.
What the possible outcomes are
In our most likely scenario, the EURUSD pair will dip towards the 1.1845 support level and then start to recover towards the 1.1975 resistance level.
Alternatively, the EURUSD could remain range bound between the 1.1800 and 1.1900 level until a new fundamental catalyst emerges to prompt a range break.
Key levels
Support 1.1845 1.1800
Resistance 1.1910 1.1975
