EURUSD Daily Analysis – October 12, 2016

EURUSD continued its downward movement from 1.1279 and the fall extended to as low as 1.1041. Further decline is still possible after a minor consolidation and next target would be at 1.1000 area. Near term resistance is at 1.1130, as long as this level holds, the downtrend will continue.

eurusd chart