EURUSD Daily Analysis – January 20, 2020

EURUSD broke below the rising price channel on the 4-hour chart and extended its downside movement from 1.1172 to as low as 1.1086, facing the support level at 1.1085. Further decline would likely be seen and next target would be at 1.1000 area. Near term resistance is at 1.1110, only break above this level could trigger another rise towards 1.1200.

EURUSD 4-hour chart