At the time of writing, the euro was down 0.25% against the greenback, testing the important 1.20 level to the downside.
Tuesday's daily candle looks like a bearish pin bar, with today's candle confirming the short-term top is probably in place for now. The pair is now testing a short-term steep uptrend line near 1.20, where the psychological level is also located.
If the pair drops below that support, a further decline toward the major support of 1.1950 is expected.
Alternatively, if the support holds, we could see a rally toward 1.2040, with a possible extension to Tuesday's highs near 1.2080.
The medium-term trend remains neutral, and the long-term trend is also unclear as the EURUSD pair has been consolidating for more than 6 months now.