EURUSD Daily Analysis – August 9, 2017

EURUSD broke below the key support level at 1.1728, indicating that the bullish movement from 1.1312 had completed at 1.1909 already. Further decline could be expected and the target would be at the bottom support trend line of the price channel on its daily chart. Resistance levels are at 1.1825 and 1.1909, only break above these levels could trigger another rise towards 1.2000.

EURUSD 4-hour chart