EURUSD’s bounce from 1.0340 extended to as high as 1.0828. However, the bounce is likely consolidation of the downtrend from 1.1616 (May 3, 2016 high). Resistance is at the top of the price channel on daily chart. As long as the channel resistance holds, the downtrend could be expected to resume, and another fall to 1.0000 area is still possible.
