EUR/USD closed lower due to profit taking on Monday as it consolidated some of the rally off June's low. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the aforementioned rally, the 38% retracement level of the 2009-2010-decline crossing is the next upside target.