EUR/USD extended its downside movement from 1.1879 to as low as 1.1554, breaking below 1.1574 support, suggesting that the downtrend has resumed.
Further decline would likely be seen in a couple of days and the next target would be in the 1.1400 area. Near term resistance is at 1.1625. Only a break above this level could bring the price back to the next resistance level at 1.1690. Above here would trigger a further upside move towards the bearish trend line on the 4-hour chart.
