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EURUSD's downward movement extended to 1.3403

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 29, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD's downward movement from 1.3650 extended to as low as 1.3403. Initial resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.3300 area. Key resistance is at 1.3444, only break above this level will indicate that consolidation of the downtrend from 1.3700 is underway, then further rally to 1.3500 area could be seen.


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