EURUSD Daily Analysis – May 30, 2017

EURUSD broke below 1.1161 key support, indicating that the short term bullish movement from 1.0839 had completed at 1.1267 already. Further decline could be expected and next target would be at around 1.1050. However, as long as 1.1050 support holds, the fall from 1.1267 would possibly be consolidation of the longer term uptrend from the April 10 low of 1.0569, another rise towards 1.1450 is still possible after the consolidation.

EURUSD 4-hour Chart