EURUSD Daily Analysis – January 31, 2014

EURUSD is facing 1.3507 support, a breakdown below this level will signal resumption of the downtrend from 1.3892, then next target would be at 1.3400 area. However, as long as 1.3507 support holds, lengthier sideways movement could be expected to continue, and one more rise to 1.0800 area is still possible.

eurusd chart