EUR/USD closed higher on Thursday as it consolidates some of the decline off this month's high. The mid-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bullish signalling that a short-term low is in or is near. Closes above the 20-day moving average crossing would temper the bearish outlook. If it renews last month's decline, the reaction low crossing is the next downside target.