EURUSD Daily Analysis – December 16, 2016

EURUSD broke below 1.0462 (Mar 13, 2015 low) support, indicating that the long term downtrend from 1.3993 (May 8, 2014 high) has resumed. Further decline could be expected and next target would be at 1.0200 area. Resistance levels are at 1.0550 and 1.0669, as long as these levels hold, the downtrend will continue.

eurusd chart