EUR/USD closed lower on Friday ending a two-day short covering rally. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold and are turning bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If June resumes this year's decline, monthly support crossing is the next downside target.