EURUSD Daily Analysis – March 8, 2017

EURUSD stays in the descend price channel on 4-hours chart, indicating that the pair remains in downtrend from 1.0828. Another fall to test 1.0493 support could be expected in a couple of days, a breakdown below this level will signal resumption of the downtrend, then next target would be at 1.0400 area. Key resistance is at 1.0679, only break above this level could signal completion of the downtrend.

EURUSD chart