EURUSD Daily Analysis – June 6, 2017

EURUSD broke above 1.1267 resistance and is now in uptrend from 1.1109. Further rise could be expected over the next several days and next target would be at 1.1450 area. Near term support is at 1.1200, only a breakdown below this level will indicate that lengthier consolidation for the longer term uptrend from 1.0569 (Apr 10 low) is needed, then deeper decline to 1.1130 area could be seen.

EURUSD 4-hour chart