EURUSD pulled back to 1.0610

[forexcycle]

Under pressure by 1.0689 resistance, EURUSD pulled back to 1.0610. Deeper decline to test 1.0569 support is possible. A breakdown below this level will indicate that the downtrend from 1.0905 has resumed, then next target would be at 1.0500 area. On the upside, as long as 1.0569 support holds, lengthier correction for the downtrend from 1.0905 could be expected to continue, and further rise to 1.0750 area to complete the correction is possible.