EURUSD's downward movement from 1.3993 extended to as low as 1.3745.

Resistance is at 1.3795, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.3650 area.

On the other side, a break above 1.3795 resistance will indicate that consolidation of the downtrend is underway, then further rise to 1.3850 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 EURUSD without a FOREX account.  The ETF looks to track the price of the euro, 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