EURUSD Daily Analysis – December 29, 2014

EURUSD is now in downtrend from 1.2569, and the fall extended to as low as 1.2166. Further decline could be expected after a minor consolidation, and next target would be at 1.2000 area. Resistance is at 1.2250, only break above this level will indicate that consolidation of the downtrend is underway, then the following upward movement could bring price to 1.2400 area.

eurusd chart