EUR/USD closed lower on Thursday as it extends the trading range of the past two weeks. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are diverging but are neutral to bearish signalling that sideways to lower prices are possible near-term. If it renews this year's decline, monthly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted.