EUR/USD dropped from 1.0823 to 1.0806 during the 60 minutes to 00:00 UTC, confirming a downside break of the sideways channel on the hourly chart. The range breakdown has revived the bearish view put forward by the breach of the trendline rising from March 22 and April 6 lows and has opened the doors for a convincing break below 1.08. Below the psychological level, a horizontal support line is seen at 1.0768. Supporting the bearish case is the below-50 reading on the 14-day relative strength