EURUSD’s downward movement from 1.2569 extended to as low as 1.1097. Further decline could be expected after a minor consolidation and next target would be at 1.0800 area. Near term resistance is at 1.1350, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
