EURUSD broke below 1.3146 support, suggesting that the downtrend from 1.4246 has resumed. Further decline could be seen in a couple of weeks, and next target would be at 1.2500 area. Resistance remains at the upper border of the price channel on daily chart, only a clear break above the channel resistance could indicate that the fall is complete.
For long term analysis, EURUSD is in downtrend from 1.4939 (May 4 high). Further decline towards 1.1500 area is expected over the next several months.
