After breaking below 1.0989 support, EURUSD rebounded strongly from 1.0981, suggesting that consolidation for the downtrend from 1.1097 is underway. Range trading between 1.0981 and 1.1040 would likely be seen in a couple of days. As long as 1.1040 resistance holds, the downtrend could be expected to resume, further decline towards 1.0900 is still possible after the consolidation.
