EUR/USD Technical Analysis: Supported at 1.1530 - Capped at 1.1600 - Breakout Mode

• EUR/USD main bear trend has been halted in mid-August. 
• EUR/USD is currently consolidating the August rally in a triangle compression pattern (blue lines) with 1.1530 as key support for bulls. The 1.1600 level has been tough to breakout above since the start of the week. EUR/USD is also finding some decent support at the 200-period simple moving average (SMA) on the 4-hour time frame while the 100 SMA is trading above the 200 SMA which is considered a rather bullish clue. 
• However, EUR/USD is trapped in a tight trading range between 1.1530 and 1.1600 and a strong directional breakout is needed above/below those levels in order to establish a clearer bias.  

EUR/USD 4-hour chart

Spot rate:             1.1581
Relative change:  -0.20%  
High:                    1.1609
Low:                     1.1569

Main trend:                    Bearish
Short-term trend:           Bullish above 1.1530

Resistance 1:   1.1600 figure
Resistance 2:   1.1630 August 8 high key level
Resistance 3:   1.1654 August 27 high
Resistance 4:   1.1700 figure
Resistance 5:   1.1750 key resistance (July)

Support 1:   1.1572 July 19 low
Support 2:   1.1542 supply/demand level
Support 3:   1.1530 August 23 swing low
Support 4:   1.1508 June 8 low