EURUSD remains in short term uptrend from 1.3512

June 24, 2014

EURUSD remains in short term uptrend from 1.3512. Another rise to test 1.3676 resistance would likely be seen, a break above this level will signal completion of the longer term downtrend from 1.3993 (May 8 high), then next target would be at 1.3800 area. Near term support is at 1.3560, a breakdown below this level will indicate that the short term uptrend from 1.3512 had completed at 1.3643 already, then deeper decline to test 1.3502 support could be seen.

eurusd chart

By ForexCycle.com