EUR/USD Price Analysis: Further consolidation seems likely near term

EUR/USD alternates gains with losses around the 1.1300 zone.
Extra range bound remains in the pipeline in the very near term.

EUR/USD navigates the lower end of the so far yearly range near the 1.1300 area on Thursday.

The lack of a firm direction in either way should prompt the pair to maintain the current consolidative move in the very near term. The initial up barrier is located past the 1.1380 level (January 3), while sellers should meet contention near 1.1270 (January 4).

The broader negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1744.

EUR/USD daily chart

Jan 6, 2022

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