Short-term downward trend for the EURUSD remains unbroken. We had to deal with in formation of a new well in the sub-sequence and out on a daily interval formed red candle demand after a morning star, so there is a potential to produce a new lower peak.
To break the short-term downward sequence is necessary to breakout next resistance zone at a level of 1.12, which is an early, important short-term support. The situation is not clear, however, can wait us deeper correction. And this is due to the proximity key, medium-term support area where it falls target range of adjustments and lower limit of the upward channel, in which the price moved in a long time.
If no-produced will be a new, lower peak, and the price breaks the indicated zone of resistance, it is possible the continuation of growth. While killing a key support could result in further declines in a few figures below 1.10.