EURUSD failed to break above 1.1534 resistance, and stayed in the trading range between 1.1097 and 1.1534. As long as 1.1534 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.2569 (Dec 16, 2014 high), another fall towards 1.0500 is still possible after consolidation. Near term support is at 1.1260, a breakdown below this level will signal resumption of the downtrend.
