EURUSD’s downward movement from 1.3451 extends to as low as 1.3105. Resistance is 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 resume, and further decline to 1.3000 area is still possible. On the other side, a clear break above the channel resistance will indicate that the downtrend from 1.3451 is complete, then another rise towards 1.3500 could be seen.
Provided by ForexCycle.com
