EURUSD Daily Analysis – January 27, 2014

EURUSD broke above 1.3699 resistance, indicating that the downward movement from 1.3892 had completed at 1.3507 already. Now the pair is in uptrend from 1.3507, further rise could be expected, and next target would be at 1.3800 area. Support is at 1.3640, a breakdown below this level will suggest that correction of the uptrend is underway, then deeper decline to 1.3580 area could be seen.

eurusd chart