EURUSD Daily Analysis – January 3, 2014

EURUSD broke below the lower line of the price channel on 4-hour chart, suggesting that the uptrend from 1.3296 (Nov 7 low) had completed at 1.3892 already. Further decline would likely be seen over the next several days, and the target would be at 1.3400 area. Resistance levels are at 1.3760 and 1.3892, only break above these levels could trigger another rise towards 1.4500.

eurusd chart