EURUSD remains in downtrend from 1.2569, the rise from 1.1459 is likely consolidation of the downtrend.
Near term resistance is at 1.1700, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.1300 area.
Key resistance is at 1.1870, 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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