forexcycle
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EURUSD moved below the ascending trend line on 4-hour chart and is now facing the 1.1161 support, a breakdown below this level will indicate that the uptrend from 1.0839 had completed at 1.1267 already, then the pair will find support at around 1.1070, followed by 1.1030. On the upside, as long as 1.1061 support holds, the fall from 1.1267 would possibly be consolidation of the uptrend, another rise towards 1.1350 is still possible after the consolidation. Resistance is at 1.1267, a break of this level could signal resumption of the uptrend.
