EURUSD Daily Analysis – April 7, 2017

EURUSD’s bearish movement from 1.0905 extended to as low as 1.0629. Key resistance is now at 1.0689, as long as the pair is below this level, the downtrend could be expected to continue and next target would be at 1.0550 area. On the upside, a break of 1.0689 resistance will suggest that the downward movement is complete, then the following rebound target would be in 1.0750 – 1.0800 area.

EURUSD chart