EURUSD Daily Analysis – April 1, 2015

EURUSD remains in downtrend from 1.1052, and the fall extended to as low as 1.0713. Near term resistance is at the top of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.0500 – 1.0550 area. However, a clear break above the channel resistance will indicate that the downtrend had completed at 1.0713 already, then further rise to test 1.1052 resistance could be seen.

eurusd chart