EUR/USD’s downside movement from 1.1879 extended to as low as 1.1574. Further decline could be expected after a minor consolidation.
The next target would be at the resistance-turned-support trend line on the weekly chart now at around 1.1400. Resistance is at 1.1645, followed by 1.1685. As long as these levels hold, the downtrend will continue.
Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.
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