EURUSD is facing 1.3444 resistance, as long as this level holds, the price action in the trading range between 1.3333 and 1.3444 could be treated as consolidation of the downtrend from 1.3700, another fall towards 1.3000 could be expected after consolidation.

On the upside, a break of 1.3444 resistance will indicate that the downtrend from 1.3700 had completed at 1.3333 already, then further rise to 1.3550 area could be seen.

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro (EURUSD), minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

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