The Euro was lower against the U.S. Dollar on Wednesday. EUR/USD was trading at 1.4294, down 0.19% at time of writing. The pair was likely to find support at 1.4222, Monday’s low, and resistance at 1.4551, Friday’s high. Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.16% to hit 0.8808 and EUR/JPY falling 0.28% to hit 115.92.EURUSD's rebound rally at the start of this week finally came to a grinding halt yesterday; as the pair peaked at 1.4498 and then quickly began to fall back lower. With the choppy summer months in full swing (notorious for treacherous sideways trading), this may simply be the start of a 1.4200-14500 range; however, should we break below 1.4309 (1 Jun low), then it seems more likely we see a resumption of the broader downtrend, and should then focus on a challenge to 1.4258 (30 May low) and 1.4149 (100-day moving average). In the meantime, the topside is thick with sellers; first resistance stands at 1.4450-60 (upper edge of our downtrend channel), then 1.4550 (10 Jun high), 1.4653 (9 Jun high), and 1.4696 (7 Jun high).
