EUR/USD closed lower on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, the 87% retracement level of 2009's rally crossing is the next downside target. Closes above the 10-day moving average crossing are needed to confirm that a short-term low has been posted.