EURUSD Daily Analysis – January 23, 2020

EURUSD extended its downside movement from 1.1172 to as low as 1.1070. Further decline could be expected after consolidation and next target would be at 1.1040 area. Resistance is at 1.1118, a breakout of this level could bring the price back into 1.1160 zone.

EURUSD 4-hour chart