EURUSD formed a cycle top at 1.4535 on daily chart. Deeper decline towards the lower border of the channel is expected in a couple of weeks. Key resistance is now at 1.4535, only break above this level could trigger another rise towards 1.4939 previous high.
For long term analysis, EURUSD is in consolidation of uptrend from 1.1876 (2010 low). Range trading between 1.3837 and 1.4939 is expected in next several weeks.
