EURUSD Daily Analysis – January 13, 2015

EURUSD broke above the upper line of the price channel on 4-hour chart, indicating that lengthier consolidation for the downtrend from 1.2569 is needed, range trading between 1.1754 and 1.1975 could be seen in a couple of days. Resistance is at 1.1975, as long as this level holds, the downtrend could be expected to resume, and another fall to 1.1500 area is still possible.

eurusd chart