EURUSD Daily Analysis – October 24, 2017

EURUSD extended its downside movement from 1.1879 to as low as 1.1725, breaking below 1.1730 support. Deeper decline to test 1.1662 (Aug 17 low) support is still possible, and a breakdown below this level could trigger further downside movement towards the resistance-turned-support trend line on the weekly chart now at around 1.1400. Near term resistance is at 1.1790, only break above this level could take price back towards 1.1879. Above this level would aim nest resistance level at 1.2029.

EURUSD 4-hour chart