EURUSD is facing the resistance of the bearish trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 1.0635 could be treated as consolidation for the downtrend from 1.1496, another fall towards 1.0500 is possible after the consolidation. Key resistance is at 1.0888, a break of this level would indicate that the downside movement had completed at 1.0635 already, then the pair would find next resistance at around 1.1100 area.
