EURUSD Daily Analysis – May 11, 2017

EURUSD’s downward movement from 1.1021 extended to as low as 1.0853. Near term resistance is at 1.0900, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0750 area. On the upside, a break of 1.0900 resistance will indicate that correction of the downtrend is underway, then the following rally could bring price to 1.0950 zone.

EURUSD chart