EURUSD Daily Analysis – April 13, 2015

EURUSD’s downward movement from 1.1052 extended to as low as 1.0567. Further decline to test 1.0462 support is possible, a breakdown below this level will confirm that the long term downtrend from 1.3993 (May 8, 2014 high) has resumed, then the following downward movement could bring price to 1.0000 area. Resistance is at 1.0700, only break above this level could bring price back to 1.0950 zone.

eurusd chart