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EUR/USD posted a key reversal down on Thursday and closed below the 20-day moving average crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are bearish signalling that additional weakness is possible near-term. If it extends today's decline, July's low crossing is the next downside target. Closes above last Wednesday's high crossing are needed to renew the rally off last month's low.