EURUSD remains in downtrend from 1.3650, the rise from 1.3437 is likely consolidation of the downtrend. Initial resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.3300 area. On the upside, a clear break above the trend line resistance will indicate that lengthier consolidation of the downtrend from 1.3700 is underway, then range trading between 1.3437 and 1.3530 could be seen.
