EURUSD remains in a range since May, mostly fluctuating between 1.08 and 1.15. There was a brief rally to 1.17 but this was not sustained and the pair fell back into its range.
In the near-term, the bearish indicators have softened back to neutral – both the tenkan-sen and kijun-sen lines have flattened out and the RSI has popped back above 50 into bullish territory. Also, the market is above the daily Ichimoku cloud, which will provide support for downside moves.
EURUSD has crossed above the 200-day moving average and above the tenkan-sen line. Prices are testing the kijun-sen line around 1.1283 but would need to clear this barrier for a move higher towards the key 1.1500 level in order to break out of range. But for now the outlook remains neutral.