The market focus at the moment is more on the USD leg of this pair and if other pairs like USD/CHF and USD/JPY can break above important resistance levels then we may see more downside for EUR/USD. Nevertheless there is also cross-action to contend with and if EUR/JPY and EUR/CHF continue with their short-term bullish trends, there will of course then be demand for the EUR/USD.
Range trading would seem to be the order of the day with parameters at 1.3470 and 1.3570. Mild bearish bias on the hourly chart which will increase if 1.3470 breaks.
