EURUSD Daily Analysis – June 20, 2014

EURUSD’s upward movement from 1.3512 extended to as high as 1.3643. Further rise to test 1.3676 resistance could be expected, a break above this level will conform that the downtrend from 1.3993 (May 8 high) had completed at 1.3502 already, then the next target would be at 1.3800 area. Support is at 1.3590, only break below this level will indicate that lengthier sideways movement in a range between 1.3502 and 1.3676 is underway, then another fall to test 1.3502 support could be seen.

eurusd chart