EURUSD Analysis – June 29, 2013

EURUSD is facing the support of the lower line of the price channel on daily chart. As long as the channel support holds, the price action from 1.3242 could be treated as consolidation of the uptrend from 1.2747, another rise towards 1.4000 could be expected after consolidation. On the downside, a clear break below the channel support will indicate that the downtrend from 1.3711 has resumed, then further decline to 1.2500 area could be seen.

eurusd daily chart