EUR/USD closed slightly higher due to short covering on Tuesday as it consolidates some of Monday's decline. The mid-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above last Wednesday's high crossing would confirm that a short-term low has been posted.