EURUSD Weekly Analysis – June 7, 2014

EURUSD is facing 1.3477 key support, as long as this level holds, the fall from 1.3993 could be treated as consolidation of the uptrend from 1.2747 (Apr 4, 2013 low), one more rise to 1.4500 area is still possible after consolidation. On the downside, a breakdown below 1.3477 support will signal completion of the uptrend from 1.2747, then the following downward movement could bring price to 1.1500 zone.

eurusd chart