EURUSD dropped sharply from 1.4951, and reached as low as 1.4621. Further pullback to 1.4400 area to reach the next cycle bottom on daily chart could still be seen in a couple of days, and the next cycle bottom is nearing. Near term support is at the up trend line from 1.4309 to 1.4365, now at 1.4392 level. Key resistance is at 1.4966, a break above this level will signal the resumption of the up trend.
For long term analysis, the pair is in sideways consolidation of the long term up trend. As long as 1.4309 long term key support holds, rise above 1.4966 previous high to reach the next long term cycle top on weekly chart is still in favor.
