EURUSD continued its downward movement from 1.0905 and the fall extended to as low as 1.0642. As we mentioned yesterday, the resistance level is at 1.0705, as long as the pair is below this level, the downtrend could be expected to continue and next target would be at 1.0600 area. However, a break of 1.0705 resistance will indicate that the downtrend had completed at 1.0642 already, then the following correction could bring price to 1.0750 – 1.0800 area.

eurusd 4-hours chart


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