EURUSD's downward movement from 1.1366 extended to as low as 1.1132.

Resistance is at 1.1210, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.1000 area.

On the upside, a break of 1.1210 resistance will indicate that the downward movement had completed at 1.1132 already, then the following upward movement could bring price back to 1.1500 zone.

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro (EURUSD), minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

Content curiosity of FOREXCycle