Technical summary:
We are still trading in a narrow range. As long as minor resistance at 1.6522 protects the upside, we could still see a move slightly lower to 1.6250 before a new rally set in to 1.7154.
A breakout below 1.6320 will change the short-term count and indicate that wave ii has become an expanded flat correction. Only an unexpected break below 1.6035 could indicate a top being in place for a deeper correction.
Trading recommendation:
We are long EUR from 1.6588 with stop placed at 1.6300. If you are not long EUR yet, Then buy close to 1.6320 with the same stop at 1.6300