EURUSD’s downward movement from 1.0905 extended to as low as 1.0650. Near term resistance is at 1.0705, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0600 area. On the upside, a break of 1.0705 resistance will indicate that correction for the downward movement is underway, then the pair would rebound to 1.0750 – 1.0800 area.
