EURUSD Daily Analysis – February 12, 2015

EURUSD is in short term downtrend from 1.1534. Deeper decline to test 1.1097 support would likely be seen, a breakdown below this level will signal resumption of the longer term downtrend from 1.2569 (Dec 16, 2014 high), then the following downward movement could bring price to 1.0500 area. On the other side, as long as 1.1097 support holds, sideways movement in the range between 1.1097 and 1.1650 could be expected to continue.

eurusd chart