EURUSD Weekly Analysis – November 29, 2015

EURUSD’s downward movement from 1.1713 extended to as low as 1.0566. Further decline to test 1.0462 (Mar 13 low) support is possible, a breakdown below this level will signal resumption of the long term downtrend from 1.3993 (May 8, 2014 high), then next target would be at 1.0000 area. Near term resistance is at 1.0850, only break above this level could bring price back to 1.2000 area.

eurusd chart