EURUSD's downward movement from 1.2569 extended to as low as 1.1744.

Further decline could be expected, and next target would be at 1.1500 area.

Resistance is now at 1.1870, only break above this level will indicate that lengthier consolidation for the downtrend is underway, then further rally to 1.1950 area could be seen.

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