EURUSD Daily Analysis – October 13, 2016

EURUSD remains in downtrend from 1.1279 and the downward movement extended to as low as 1.1000. Further decline could be expected after a minor consolidation, and next target would be at 1.0950 area. Near term resistance is at 1.1060, as long as this level holds, the downtrend will continue.

eurusd chart