EURUSD continues its downward movement from 1.3451, and the fall extends to as low as 1.3111. Resistance is located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.3050 area. On the upside, a clear break above the channel resistance will will suggest that the downtrend from 1.3451 has completed, then the following upward movement could bring price back to 1.3500 zone.
Provided by ForexCycle.com
