EURUSD's downward movement from 1.2569 extended to as low as 1.2132.
Near term resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.2000 area.
Key resistance is now at 1.2220, only break above this level could signal completion of the downtrend.
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.
Content curiosity of FOREXCycle
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