EURUSD Daily Analysis – August 29, 2014

EURUSD is in consolidation of the downtrend from 1.3700 (Jul 1 high). Range trading between 1.3152 and 1.3300 would likely be seen in a couple of days. Resistance levels are at 1.3240 and 1.3300, as long as these levels hold, the downtrend could be expected to resume, and another fall towards 1.3000 is still possible. Support is at 1.3152, a breakdown below this level could signal resumption of the downtrend.

eurusd chart