EURUSD Analysis – August 31, 2013

EURUSD breaks below the lower line of the price channel on daily chart, suggesting that the uptrend from 1.2756 had completed at 1.3451 already. Deeper decline would likely be seen, and the target would be at 1.2900 – 1.3000 area. Resistance is now at 1.3300, only break above this level could trigger another rise towards 1.4000.

eurusd daily chart