EURUSD broke below the rising price channel on its daily chart, indicating that consolidation for the uptrend from 1.0340 is underway. Range trading between 1.1662 and 1.2092 would likely be seen in a couple of weeks. As long as 1.1662 support holds, the uptrend could be expected to resume after the consolidation and another rise towards 1.2700 is still possible. On the downside, a clear break below 1.1662 support would suggest that the uptrend had completed at 1.2092 already, then the pair would find next important support at the resistance-turned-support trend line on the weekly chart, now at 1.1420.
