EURUSD Weekly Analysis – April 13, 2019

EURUSD failed to break below 1.1176 support and stayed in a trading range between 1.1176 and 1.1448, suggesting that lengthier consolidation for the downtrend from 1.1815 is needed. As long as 1.1448 key resistance holds, the downside movement could be expected to resume, further decline to 1.1000 area is still possible after the consolidation. Only a break of 1.1448 resistance could signal completion of the downtrend.

EURUSD daily chart