EURUSD Weekly Analysis – January 12, 2020

EURUSD broke below the rising trend line on the daily chart, facing the key support level at 1.1066. As long as this level holds, the pullback from 1.1239 would possibly be consolidation for the uptrend from 1.0981, further rise to 1.1350 area is still possible after the consolidation. On the downside, a breakdown below 1.1066 support would confirm that the upside movement had completed at 1.1239 already, then another fall towards 1.0800 could be seen.

EURUSD daily chart