EURUSD is forming a sideways consolidation in a range between 1.3969 and 1.4696. Lengthier consolidation in the range would likely be seen next week. Support is at 1.3969, a breakdown below this level could trigger another fall towards 1.3500. Key resistance is at 1.4696, above this level will indicate that the long term uptrend from 1.1876 (2010 low) has resumed, then the target would be at 1.5500 area.
For long term analysis, EURUSD had formed a cycle top at 1.4939 on weekly chart. Further fall towards 1.1500 is possible in next several months.
