EURUSD Weekly Analysis – September 20, 2014

EURUSD’s downward movement from 1.3700 extended to as low as 1.2825. Further decline would likely be seen over the next several weeks, and next target would be at 1.2300 area. Resistance is now at 1.29954, only break above this level will indicate that consolidation of the longer term downtrend from 1.3993 is underway, then further rise to 1.3100 area could be seen.

eurusd chart