• EUR/USD may test the lower level of the range at 1.0670.
• The 14-day RSI suggests the confirmation of the bearish bias for the pair.
• The pair could find an immediate barrier at the 50-day EMA at 1.0769.

EUR/USD halts its three-day winning streak, trading around 1.0730 during the Asian hours on Monday. A technical analysis of the daily chart indicates a bearish bias, with the pair consolidating within a descending channel.

The 14-day Relative Strength Index (RSI) remains slightly below the 50 level, suggesting the EUR/USD pair trading within a consolidative range between 1.0780-1.0670. If the RSI improves to the 50 level, it would weaken the bearish momentum for the pair and help to break above the range.

The EUR/USD pair may test the lower level of the range at 1.0670, which also acts as a throwback support. A break below this level would reinforce the bearish bias, potentially pushing the pair toward the lower boundary of the descending channel near 1.0610.