EURUSD Weekly Analysis – June 22, 2014

EURUSD remains in uptrend from 1.2747 (Apr 4, 2013 low), as long as 1.3477 support holds, the price action from 1.3892 could be treated as consolidation of the uptrend. Near term resistance is at 1.3680, a break above this level will indicate that the downward movement from 1.3993 had completed, then further rise to test 1.3993 previous high resistance could be seen. On the downside, a breakdown below 1.3477 support will indicate that the uptrend had completed at 1.3993 already, then the following downward movement could bring price to 1.1500 area.

eurusd chart