The rate is approaching the cloud where is the top of the downward channel and the 50 % Fibonachi retracement and a former bottom as well. This multiresistance level shall be difficult to overcome at once.
The rise 2 days ago indicated a buying power at this level. This rise has been retraced now so that renewed buying is possible here. This doesn't mean that the euro will very much strengthen but a larger rise is possible.