EUR/USD drifts lower after recent rebound
EUR/USD is moving lower, following on from a rebound in the second half of last week. With such a clear downtrend in play, there is always a strong likeliness of further downside to come.
However, with the break above $1.1428 on Friday, there seems to be a heightened chance of a stronger short-term rebound. A break back below the $1.1300 mark would signify a continuation of the downtrend. However, until then, there is a strong chance we will see the pair gain further ground, if only to retrace more of the sell-off from $1.1628.