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During the past few weeks, the EURUSD pair has been trapped within a consolidation range between the price levels of 1.1700 and 1.1900.
In late September, Re-closure below the price level of 1.1700 has initiated another downside movement towards 1.1540.
Price levels around 1.1700 managed to hold prices for a short period of time before another price decline towards 1.1200.
Since then, the EURUSD has been moving-up within the depicted movement channel.
Currently, the price zone of 1.1480-1.1500 stands as an intraday Resistance zone to be watched for short-term SELL trades.
On the other hand, the price zone around 1.1500 stands as a prominent supply-zone to be watched for SELLING pressure and a possible SELL Entry upon the next ascending movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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