EURUSD remains in downtrend from 1.3700
EURUSD remains in downtrend from 1.3700, the rise from 1.3490 is likely consolidation of the downtrend. Resistance is located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.3300 area. On the upside, a clear break above the channel resistance will indicate that the downward movement had completed at 1.3490 already, then further rally to 1.3670 area could be seen.
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