EURUSD rebounds from 1.3793 level. Range trading between 1.3793 and 1.4050 is now in favor. As long as 1.4050 resistance holds, we’d expect lengthier consolidation to continue and one more fall to test the support of the lower border of the price channel on 4-hour chart is possible. On the other side, the rise from 1.3793 could possibly be resumption of uptrend, and a break above 1.4050 previous high will confirm such case, then the next target would be at 1.4200 level.
