EURUSD
The exchange rate is consolidating below the downward trendline and the 1.1475 level. Until it breaks through this level, a long-term uptrend will not be able to take hold. A reversal pattern has not yet formed; further confirmation is needed for significant upside potential to emerge. The 1.1352 area has become a support level that should not be broken if the pair is to form a reversal pattern. A break below 1.1352, however, could open the door to further declines, with the next support level around 1.1230.
Resistance levels: 1.1719; 1.1841; 1.1962; 1.2085; 1.2207; 1.2329; 1.2451.
Support levels: 1,1352; 1.1230.
