EURUSD Daily Analysis – January 20, 2015

EURUSD remains in downtrend from 1.2569, the rise from 1.1459 is likely consolidation of the downtrend. Near term resistance is at 1.1700, as long as this level holds, the downtrend could be expected to continue, 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