EURUSD finally broke the 1.0350 low and made an attack toward parity last week. The charts show that everything goes according to the established trend in EURUSD. 

The channel’s trendline is so far respected almost precisely, and the move down last week comes after EURUSD tested the upper trendline 10 trading days ago. The channel’s projection now suggests that 1.00 can be reached soon, perhaps even this week. There, EURUSD should meet stronger support.

The parity area (1.00) is an important psychological mark for EURUSD traders. Some reaction here looks probable if/when the area is reached. However, based on larger timeframes (monthly), the 0.95 zone seems like a more significant support area than 1.00. Thus, if parity bread, 0.95 is the next support that EURUSD will watch.

The 1.0350 zone is now turned resistance. The more important one to watch is the 1.05 area which should stop any upside attempts and keep the downtrend intact.