EURUSD Daily Analysis – December 22, 2016

EURUSD moved sideways in a trading range between 1.0352 and 1.0479. As long as 1.0500 resistance holds, the price action in the range could be treated as consolidation of the downtrend and further decline to 1.0200 area is still possible. Only break above 1.0500 resistance could signal completion of the downtrend.

eurusd chart