Being contained by 1.3793 key support, EURUSD rebounds from 1.3804 level. However, the rise from 1.3804 is treated as consolidation of downtrend from 1.4338. Pullback to re-test 1.3793 would more likely be seen later today. A break down below this level will signal deeper decline to 1.3600-1.3650 area. Near term resistance is at 1.4080, only rise above this level will indicate that the fall from 1.4338 has completed, and then range trading between 1.3793 and 1.4338 could be seen to follow.
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