EURUSD is facing the support of the rising trend line from 1.1554 to 1.1712 on the 4-hour chart. As long as the trend line support holds, the fall from 1.1961 could be treated as consolidation of the uptrend from 1.1554, and another rise is still possible after the consolidation. Near term resistance is at 1.1890, a break of this level could take price to next resistance level at 1.1961. Above this level will confirm that the uptrend has resumed, then next target would be at 1.2092 (Sep 8 high). On the downside, a breakdown below the trend line support would suggest that the uptrend had completed at 1.1961 already, then deeper decline towards 1.1712 support could be seen. Below this level could trigger further downside movement towards 1.1554, followed by the resistance-turned-support trend line on the weekly chart now at around 1.1390.
