EURUSD Daily Analysis – February 13, 2015

EURUSD moved sideways in a trading range between 1.1097 and 1.1534. As long as 1.1534 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.2569 (Dec 16, 2014 high), another fall towards 1.0500 is still possible after consolidation. Key resistance is at 1.1650, only break above this level could signal completion of the downtrend.

eurusd chart