EURUSD Weekly Analysis – May 14, 2017

EURUSD broke below 1.0850 support, indicating that the short term uptrend from 1.0569 had completed at 1.1021 already. Another fall towards the bottom of the price channel on daily chart could be expected in a couple of weeks. Resistance is at 1.1021, only a break of this level could trigger another rise towards 1.1400.

EURUSD chart