EURUSD Analysis – July 27, 2013

EURUSD is facing 1.3415 resistance, as long as this level holds, the price action from 1.2747 could be treated as consolidation of the downtrend from 1.3711, and one more fall towards 1.2500 is still possible after consolidation. On the upside, a break above 1.3415 resistance will indicate that the long term uptrend from 1.2042 (Jul 24, 2012 low) has resumed, then the following upward movement could bring price to 1.4500 zone.

eurusd daily chart