EURUSD Daily Analysis – May 12, 2017

EURUSD continued its downward movement from 1.1021 and the fall extended to as low as 1.0839. Resistance level is at 1.0900, as long as this level holds, the downward movement could be expected to continue and next target would be at 1.0750 area. On the other side, a break of this level will suggest that correction of the downtrend is underway, and this will trigger a rally to 1.0950 area.

EURUSD chart