EURUSD Weekly Analysis – July 10, 2016

EURUSD remains in downtrend from 1.1616, the rise from 1.0911 is likely consolidation of the downtrend. Near term resistance is at 1.1440, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0600 area. On the upside, a break of 1.1440 resistance will indicate that the uptrend from 1.0517 has resumed, then the following upward movement could bring price to 1.2000 zone.

eurusd chart