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The euro currency briefly slipped to a two-week low before recovering intraday.

Price action reversed losses just a few pips shy of the 1.1715 handle.

While price action is attempting to pare losses, the 1.1800 level will pose as resistance.

Any gains might be likely capped back at this level. The Stochastics oscillator is moving out from the oversold levels currently, but overall, we could see a modest rebound.

Price action in the EURUSD will therefore remain range-bound within the 1.1800 and 1.1715 levels for the near term.

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