EURUSD Daily Analysis – May 6, 2020

EURUSD broke below the rising trend line on the 4-hour chart, suggesting that the upside movement from 1.0727 had completed at 1.1018 already. Further decline could be expected and next target would be at 1.0750 area. Near term resistance is at 1.0890, a break of this level could bring the price back towards 1.1000.

EURUSD 4-hour chart