EUR/USD closed lower due to profit taking on Tuesday as it consolidates some of last week's rally. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted. If it renews this month's decline, the reaction low crossing is the next downside target.