EURUSD’s downward movement from 1.0828 extended to as low as 1.0560. There is a downward trend line on 4-hour chart, which may act as a resistance on the upside now at 1.0620. As long as the pair is below the trend line, the downtrend could be expected to continue and next target would be at 1.0400 area. Key resistance is at 1.0658, only break above this level will confirm that the downtrend is complete, then the following upward movement could bring price back to 1.0700 – 1.0740 area.
