Being contained by 1.4338 previous high resistance, EURUSD pulls back from 1.4304, suggesting a cycle top has been formed on daily chart. Deeper decline is now in favor and next target is to test 1.3748 support, below this level will indicate that the uptrend from 1.2456 has completed at 1.4338 already.
For long term analysis, EURUSD might be forming a cycle top at 1.4338 level on weekly chart. Key support is located at 1.3748, a break below this level will confirm the cycle top.
