EURUSD broke below 1.4626 key support, suggesting that the uptrend from 1.3748 has completed at 1.5144 level already. Further decline is now in favor and next targets would be at 1.4300 area. Resistance is at 1.4800, only rise above this level could signal minor consolidation of downtrend.
For long term analysis, EURUSD has formed a cycle top at 1.5144 level on weekly chart. Pullback towards 1.4000-1.4300 area to reach next cycle bottom is expected in next several weeks.
