EURUSD breaks below 1.3825 support and reaches as low as 1.3546 level. Deeper decline could be seen to 1.3050 zone in next several days. Initial resistance is now at 1.3765, as long as this level holds, we’d expect downtrend to continue.
For long term analysis, EURUSD formed a cycle bottom at 1.2329 level on weekly chart. Consolidation in a range between 1.2329 and 1.4719 would more likely be seen in next several months.
