EURUSD is facing the resistance of the falling price channel on the daily chart. As long as the channel resistance holds, the bounce from 1.0925 could be treated as consolidation for the downtrend, further decline to 1.0800 area is still possible after the consolidation. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 1.0925 already, then the pair would find next resistance level at 1.1250.
