EUR/USD shying away from consolidation ceiling below 1.1500

• Broader markets see recovering risk appetite for Tuesday, but Fiber heads downwards.
• The Euro looks to be running out of steam at major resistance, marking in a potential turnaround at a channel boundary.

EUR/USD is bedding down for Tuesday’s  action, dipping into the 1.1450 region once again after peaking near 1.1485 to start the day.

The Fiber’s bottoming-out comes as the recent bullish push sees the major pairing hitting major resistance from the 1.1480 zone, a major consolidation point that has kept EUR/USD largely under wraps since drifting beneath the key level in late October 2017.

Near-term consolidation on 4-hour candles sees the pair rejecting sharply from the sideways channel’s upper bound, despite a broad-market upwards correction in risk appetite to kick off Friday’s trading, and the EUR’s failure to break into fresh highs at the 1.1500 major handle could see the pair flop back to the low end of recent ranges near 1.1300.

EUR/USD Technical Levels