EURUSD Daily Analysis – January 9, 2014

EURUSD broke below 1.3571 previous low, and continued its downward movement from 1.3892, and the fall extended to as low as 1.3553. Further decline would likely be seen over the next several days, and the target would be at 1.3400 area. Key resistance is now at 1.3655, only break above this level will indicate that correction of the downtrend is underway, then further rise to 1.3780 area could be seen.

eurusd chart