EURUSD is facing 1.2998 key resistance, a break above this level will indicate that the downward movement from 1.3242 had completed at 1.2796 already, then the following upward movement could bring price to 1.3500 area. On the downside, as long as 1.2998 resistance holds, the price action in the trading range between 1.2796 and 1.2998 is treated as consolidation of the downtrend from 1.3242, one more fall to test 1.2747 support is possible after consolidation.
