EURUSD Weekly Analysis – September 27, 2014

EURUSD continued its downward movement from 1.3700, and the fall extended to as low as 1.2676. Further decline is still possible after a minor consolidation, and next target would be at 1.2200 area. Resistance is at 1.2900, only break above this level will indicate that consolidation of the longer term downtrend from 1.3993 is underway, then the pair will find resistance around 1.3100.

eurusd chart