EURUSD moved sideways in a trading range between 1.1508 and 1.1644. As long as 1.1644 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.1851, and further decline towards 1.1300 area is still possible after the consolidation. On the upside, a breakout of 1.1644 resistance would indicate that the short term downtrend had completed at 1.1508 already, then further rally to 1.1750 area could be seen.
