EURUSD continued its sideways movement in a range between 1.1261 and 1.1534. Support is at 1.1261, a breakdown below this level will signal resumption of the downtrend from 1.2569 (Dec 16, 2014 high), then the following downward movement could bring price to 1.0500 area. Resistance is at 1.1534, a break of this level will indicate that lengthier consolidation for the downtrend from 1.2569 is underway, then further rise to 1.1650 – 1.1700 area could be seen.
