EURUSD Daily Analysis – January 19, 2015

EURUSD’s downward movement from 1.2569 extended to as low as 1.1459. Near term resistance is at 1.1700, as long as this level holds, further decline could be expected after a minor consolidation, and next target would be at 1.1300 area. Key resistance is at 1.1870, only break above this level could signal completion of the downtrend.

eurusd chart