EURUSD remains in downtrend from 1.3411, the rise from 1.2859 is likely consolidation of the downtrend. Near term resistance is at 1.2985, and the key resistance is located at the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to resume, and another fall towards 1.2500 is still possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.2859 already, then further rise to 1.3150 area could be seen.
