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EURUSD broke above 1.3676 key resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 30, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD broke above 1.3676 key resistance, indicating that the downtrend from 1.3993 (May 8 high) had completed at 1.3502 already. Near term support is at 1.3650, as long as this level holds, the uptrend from 1.3512 could be expected to continue, and next target would be at 1.3800 area. Key support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

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