EURUSD remains in uptrend from 1.0822, the fall from 1.1464 is likely consolidation of the uptrend.

Support is at 1.1100, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.2000 area.

On the downside, a breakdown below 1.1100 support will indicate that the uptrend had completed at 1.1464 already, then deeper decline to test the support of the upward trend line 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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