EURUSD Analysis – August 10, 2013

EURUSD is facing 1.3415 resistance, as long as this level holds, the price action from 1.2747 could be treated as consolidation of the downtrend from 1.3711, one more fall towards 1.2500 could be expected after consolidation. However, a break above 1.3415 resistance will indicate that the uptrend from 1.2042 (Jul 24, 2012 low) has resumed, then the following upward movement could bring price to 1.4500 area.

eurusd daily chart