EURUSD is testing the resistance of the price channel on 4-hour chart. As long as the channel resistance holds, the price action from 1.3212 could be treated as consolidation of downtrend from 1.4246, and one more fall towards 1.3146 (Oct 4 low) is still possible. On the upside, a clear break above the upper line of the channel will indicate that the downward movement from 1.4246 had completed at 1.3212 already, then the following upward move could bring price back to 1.3900 zone.

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