Looking at EUR/USD Chart, we can see the downward trend extended as the 1.13 support level was broken on two attempts, leading to a gradual fall to the 1.126 level. From there it bounced back up towards the previous support of 1.13 but unable to consolidate it was breached again and it fell to the 1.12 level where it is currently found trading having no short-term support and overhead resistance found at 1.126 level

Today we could expect an extension of the current trend and a further fall below the 1.12 level or consolidation at the same level.

If however, it does manage to consolidate or hold above the 1.12 range then a move towards the 1.126 resistance can be expected.

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