EUR/USD closed lower on Friday as it extended yesterday's decline below the 50% retracement level of the 2008-2009-rally crossing. The mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this winter's decline, the 62% retracement level of the 2008-2009-rally crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.