EURUSD had formed a cycle top at 1.4246 on daily chart, and the pair is now in downtrend. Resistance is at 1.4000, as long as this level holds, deeper decline could be seen after a minor consolidation, and target would be at 1.3400 area.
For long term analysis, EURUSD had formed a cycle bottom at 1.3146 on weekly chart. Further rise towards 1.5000 would likely be seen over the next several weeks.
