EURUSD continues its downward movement and the fall from 1.5144 extends to as low as 1.1955 level. Resistance is now at 1.2330, as long as this level holds, downtrend could be expected to continue and deeper decline could be seen to 1.1700 area next week.
For long term analysis, EURUSD broke below 1.2329 (Oct 28, 2008 low), suggesting deeper decline towards 1.13000 area. Only rise above 1.2700 could take price back to 1.5000 area.
