EURUSD failed to break above the resistance of the falling price channel on the daily chart, suggesting that the pair remains in the downtrend from 1.1412. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 1.0800 area. Key resistance is now at 1.1109, above this level would indicate that the downside movement had completed at 1.0925 already, then the following upside movement could bring the price back to 1.1250 area.
