EURUSD Daily Analysis – December 19, 2014

EURUSD is facing 1.2247 support, a breakdown below this level will signal resumption of the downtrend from 1.2867 (Oct 15 high), then next target would be at 1.2000 area. Near term resistance is at 1.2375, only break above this level will indicate that lengthier consolidation for the downtrend is needed, then range trading between 1.2247 and 1.2599 could be expected to continue.

eurusd chart