EURUSD Daily Analysis – December 15, 2017

EURUSD’s bounce from 1.1717 extended to as high as 1.1862, the subsequent fall is likely resumption of the downtrend from 1.1961. Further decline to test 1.1712 support would likely be seen, a breakdown below this level could take price towards 1.1660, followed by 1.1554. Below these levels would aim 1.1390 area. Near term resistance is now at 1.1862, only break above this level could trigger another rise towards 1.1961.

EURUSD 4-hour chart