EURUSD is facing the support of the bullish trend line on the daily chart. As long as the price is above the trend line, the price action from 1.2537 could be treated as consolidation for the uptrend from 1.1554, and another rise towards 1.2700 is still possible after the consolidation. Near term resistance is at 1.2555, a breakout of this level could signal resumption of the uptrend. On the downside, a breakdown below the trend line support could bring price back to test the key support at 1.2165. A break below this level would indicate that the uptrend had completed at 1.2555 already, then further decline towards 1.1915 support could be seen.
