EURUSD fell in the intraday levels, reaching the support of 1.1130 and bouncing higher away from it in today's morning trading as the pair attempts to recover some losses, touching eventually the SMA50 resistance, while still being affected by breaching the support of that ascending price channel that limited the pair's previous short-term movements, while noting that relative power indicators have reached considerably overbought levels, hinting at a forming negative divergence in the Stochastic indicator as shown below the attached chart.

Therefore we expect more losses to come for the pair, targeting the pivotal support of 1.1085.

Trend Bearish