EURUSD remains in downtrend from 1.3650, the rise from 1.3366 is likely consolidation of the downtrend. Initial resistance is at the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.3300 area. On the upside, a clear break above the trend line resistance will indicate that consolidation of the downtrend from 1.3700 is underway, then range trading between 1.3366 and 1.3470 could be seen to follow.
