EURUSD Daily Analysis – February 5, 2015

EURUSD is in consolidation of the downtrend from 1.2569 (Dec 16, 2014 high). Range trading between 1.1097 and 1.1650 would likely be seen over the next several days. Key resistance is at 1.1650, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.0500 is possible after consolidation.

eurusd chart