EURUSD moved above the descending price channel on daily chart, indicating that the downward movement from 1.1616 (May 3, 2016 high) has completed at 1.0340 already. Further rise could be expected over the next several weeks and next target would be at 1.1400 area. Near term support is at 1.0750 and the key support is located at the rising trend line on daily chart, only a clear break below the trend line support could signal completion of the uptrend from 1.0340.
