EUR/USD 4H Chart 5/29 (click to enlarge) The EUR/USD started the week falling to 1.0818, after which is started to consolidate. It is now in a bullish correction. But even though it broke above a falling trendline, it isstill bearish as it trades under the 200-, 100-, and 50-period simple moving averages (SMAs). The RSI is also still under 60, which means that the prevailing bearish momentum is till in play. Now, the market might fade the EUR/USD back to the bearish trend as it tests the 1.10 handle, but there is still room to 1.1065 before the pair faces a key resistance in the form of a previous support. Then above 1.1150, EUR/USD would likely be back in an uptrend. To the downside, a break below an intra-week support/resistance pivot around 1.0920 should revive the bearish outlook.