EURUSD Daily Analysis – May 28, 2014

EURUSD is in consolidation of the downtrend from 1.3993. Range trading between 1.3612 and 1.3700 would likely be seen in a couple of days. Key resistance is at 1.3734, as long as this level holds, the downtrend could be expected to resume, and next target would be at 1.3500 area. Only break above 1.3734 resistance could signal completion of the downtrend.

eurusd chart