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EUR/USD closed higher on Wednesday as it extends the rally off last week's low. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. Today's close above the reaction high crossing confirms that a short-term low has been posted while opening the door for a larger-degree rally into early-March. If it renews this month's decline, the reaction low crossing is the next downside target.