Since Monday there is a low volatility at EURUSD. The price has been continuing its downward movement since last week’s attempt of breaking above important resistance at 1.1490 which was failed. Currently the price may leads to 1.1060 level where is located lower limit of the bullish regresson channel. EURUSD for almost 6 months is moving in this channel (blue lines on the chart below). Alternatively bullish sign is staying near important resistance at 1.1490. Such consolidation is the only way to break so important level.
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If EURUSD breaks below support at 1.1380, the target for further falls will be located at 1.1060 but with support on the way located at: 1.1330, 1.1270, 1.1220, 1.1160, 1.1060.
Hovewer effective defense of support at 1.1380 will lead the price to 1.1490 where should occur attempt of breaking above that level.
