The Euro has been struggling to find further upside momentum against some of its G10 counterparts.

EUR/USD has been in a consolidation setting with prices ranging between 1.1916 and 1.1696 for most of this month so far. Prices stalled after the emergence of a Doji candlestick, which is a sign of indecision. Downside confirmation has been somewhat lacking, but a close under the lower bound of the Euro’s consolidation could open the door to a reversal. However, rising support from May could maintain the dominant uptrend in the event of short term gains. A push above 1.1916 exposes the 126.60% Fibonacci extension at 1.2028.