EURUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.2042, the price action from 1.2389 is treated as consolidation of the uptrend. Another rise to test 1.2442 resistance could be expected, a break above this level will target 1.2600 area. Key support is at the trend line, only a clear break below the trend line could indicate that the longer term downtrend from 1.3486 (Feb 24 high) has resumed, then further decline towards 1.1700 could be seen.
