EUR/USD is now in downtrend from 1.2092. As long as the price is below the bearish trend line on the daily chart, the downside movement could be expected to continue. The next target would be at the resistance-turned-support trend line on the weekly chart now at around 1.1400.

On the upside, a clear break above the trend line on the daily chart will indicate that the downward movement from 1.2092 is complete, then a further rally to the next resistance level at 1.1879 could be seen.