EURUSD Daily Analysis – February 7, 2020

EURUSD broke below 1.0992 support and extended its downside movement from 1.1239 to as low as 1.0964. Further decline could be expected in the coming days and next target would be at 1.0900 area. Near term resistance is at 1.1000, a break of this level could bring the price back towards the top of the falling price channel on the 4-hour chart.

EURUSD 4-hour chart