EURUSD tested the 1.02 resistance last week and was rejected there. The pair returned toward the 1.00 level, and as we said last Monday, such action confirms that the 1.02 resistance is strong and holding. The downtrend channel that defines the bearish trend since February is fully intact also (see chart below).

Thus, more downside action looks like the probable outcome for EURUSD. The current levels around parity (1.00) are the first support. The next zones to watch are 0.99 near the previous lows, and 0.98, which represents some notable Fibonacci levels.