EURUSD Daily Analysis – March 31, 2014

EURUSD’s downward movement from 1.3966 extended to as low as 1.3705. Resistance is now located at the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.3600 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

eurusd chart