Price of EURUSD stays below the 1.18495 swing highs from August 24 and August 27

The price of the EURUSD continues the up and down consolidation after stepping lower. The last 6 hours of trading have ranged between 1.18213 and 1.18488. The high price has stayed just below the swing highs from August 24 and August 27 which peaked at 1.18495. Staying below that level and then the sideways moving 200 hour moving average (and 61.8% retracement) at 1.18566, keeps the sellers in control.

On the downside, the pair is back in the range where most of the trading activity occurred between 1.1779 and 1.18495. There were extremes over the last few weeks that took the price to 1.1772, 1.17615, and the August 21 low at 1.17530

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