EURUSD extended its downside movement to as low as 1.1662. Deeper decline towards the bottom support trend line of the price channel on its daily chart is still possible. Near term resistance is at the falling trend line on the 4-hour chart, as long as the trend line resistance holds, the downside move will continue. Key resistance is at 1.1909, only break above this level could signal resumption of the uptrend from 1.0569 (Apr 10 low).
