The pair is evolving in a middle term triangle with limits between 1,45 and 1,42 i.e. 300 pips range.
The bottom of the triangle is now being tested and there is a good probability of a breakout for a continuation towards 1,40.
EUR/USD : daily chart
If we take a look at a weekly chart, we see that the Euro might be under pressure over the comings weeks. We expect a test of the 1,40 critical level. A break below this support would expose further decline with a potential reversal of the main trend.
For the time being, we need to see a confirmation of a break below 1,42.
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