EURUSD is in down trend. The rebound from 1.4309 is treated as consolidation to the down trend. Further rise to test the resistance of the down trend line from 1.4966 to 1.4750 is expected. Near term support is at 1.4309, a break below this level will signal the resumption of the down trend. For long term analysis, the pair formed a long term cycle top at 1.4966 on weekly chart. Down trend is expected to follow, long term target would be at 1.2950, followed by 1.2150.
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