EURUSD Daily Analysis – September 29, 2014

EURUSD continued its downward movement from 1.3411, and the fall extended to as low as 1.2666. Further decline would likely be seen after a minor consolidation, and next target would be at 1.2500 area. Near term resistance is at 1.2765, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break below the trend line resistance could signal completion of the downtrend.

eurusd chart