EURUSD remains in downtrend from 1.1616 (May 3, 2016 high), the rise from 1.0340 is likely consolidation of the downtrend. Further rally is possible in a couple of weeks, and the target would be at the top of the price channel on daily chart. On the downside, as long as the channel resistance holds, the downtrend could be expected to resume after consolidation, and another fall to 1.0000 area is possible.
