The EUR/USD held above 1.3420 low of last week, and continued consolidating in a range. First resistance in this range is at 1.3550 area. The next is the 200 hour simple moving average, being tested as the market gears up for the US session. 1.36 is the next level of resistance. The RSI in the 1H chart actually shows a bit of a bullish bias as it failed to tag 30 on the trip down, and is now breaking back above 60. Price action has been sideways, and the structure of the market looks corrective. Double zig zag: The push last week from 1.3420 toward 1.36 was in an (a)(b)(c) zig zag W. Then another abc wave down is the ... (full story)