EUR/USD consolidates within downturn
EUR/USD has consolidated overnight, following on from a weak end to last week. The break lower from the 76.4% retracement points toward the potential for a prolonged period of downside.
An hourly close below the $1.0603 mark would provide a near-term sell signal for another leg lower. Conversely, an hourly close above $1.0627 would point towards a bigger move higher, toward the $1.0647 region.