EURUSD Daily Analysis – September 14, 2017

EURUSD broke below the bullish trend line on the 4-hour chart. Further decline to test next support level at 1.1823 is possible. A breakdown below this level will confirm that the upside movement from 1.1662 had completed at 1.2092 already, then the following downside movement could take price to test the key support at 1.1662. On the upside, as long as 1.1823 support holds, the fall from 1.2092 would possibly be correction of the uptrend from 1.0569 (Apr 10 low), one more rise to 1.2165 area is still possible.

EURUSD 4-hour chart