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EUR/USD – Sideways to positive action likely

FX:EURUSD   Euro Fx/U.S. Dollar
Euro’s retreat from Tuesday’s high of 1.1234 to Wednesday’s low of 1.1131 suggests a short-term loss of momentum following a sharp rally from the post Fed low of 1.0952 and could yield congestion in the range of 1.1181-1.1130 levels.

Only a day end close above 1.1236 would indicate the rally from post Brexit low has resumed.

On the other hand, a daily closing below 1.1124 (back inside falling channel ) would signal a top is in place at 1.1234 and prices are now heading back to 1.10 handle.
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