EURUSD Consolidating into a Triangle

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The euro is maintaining its sideways range. However, over the past few sessions, the recent highs and lows show a triangle pattern that is emerging.

This could signal a possible breakout in the near term. The bias remains mixed for the moment as the euro could move in either direction.

To the upside, we expect to see the 1.1347 level being challenged once again.

A successful breakout above this level will send the euro to test the 1.1400 handle.

To the downside, the 1.1132 level of support remains the near term target.

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