EURUSD forms potential bearish triangle pattern; a break below 1.3503 is needed to confirm

Eurusd has been consolidating, forming a 3-week triangle pattern within the 1.3503 low and the 1.3676 high as shown on the weekly chart. With both RSI and MACD still weak, a breakdown below the 1.3503 support remains favored ahead of further losses, extending the slide off the 1.3993 YTD peak, towards 1.3477 and the 200 week moving average currently at 1.3415.

A break above 1.3676 would negate and suggest basing, improving the outlook for 1.3735/1.3776 (19/12 May weekly highs).