EURUSD Daily Analysis – May 15, 2020

EURUSD broke below the rising price channel on the 4-hour chart, suggesting that the downside movement from 1.1018 has resumed. Further decline could be expected in the coming days and next target would be at 1.0700 area. Near term resistance is at 1.0850, only break above this level could trigger another rise towards 1.0950.

EURUSD 4-hour chart