EURUSD Daily Analysis – January 23, 2015

EURUSD broke below 1.1459 previous low support, and continued its downward movement from 1.2569, and the fall extended to as low as 1.1316. Further decline could be expected, and next target would be at 1.1000 area. Near term resistance is at the downward trend line on 4-hour chart, and the key resistance is at 1.1679, only break above this level could signal completion of the downtrend.

eurusd chart