FX.co ★ EUR/USD Intraday Technical Analysis August 25, 2011

The pair is still preserving the higher lows and now seems to fail to make higher high.

The pair is now testing the upper limit of the long term bearish channel 1.4480.

The pair is trapped inside a narrow range 1.4334 - 1.4500.

This range indicates confusion of traders and strength of the current resistance area.

We need to see initial breakout of this range in order to take trades, untill then no trade is suggested.