EURUSD Daily Analysis – September 27, 2017

EURUSD broke below 1.1823 support and fell down to as low as 1.1757. Further decline to test 1.1662 support would likely be seen in a couple of days. A breakdown below this level could indicate that the uptrend from 1.0569 (Apr 10 low) had completed at 1.2092 already, then the pair would find next support at the resistance-turned-support trend line on the weekly chart, now at 1.1420. On the upside, as long as 1.1662 support holds, the fall from 1.2092 would possibly be consolidation of the uptrend from 1.0340 (Jan 3 low), another rise towards 1.2700 is still possible after the consolidation.

EURUSD 4-hour chart