EURUSD engaged in high volatility in the intraday levels after rising to test the support of that ascending price channel that limited the pair's previous short term movements as shown in the attached chart, but as a resistance this time after breaching it previously, bouncing off it lower, while noting a venting-off of oversold saturation apparent in relative power indicators.

Therefore we expect more losses to come for the pair, targeting the support of 1.0940, and in case of breaching that, targeting the next support of 1.0875 as a price target for exiting that ascending price channel.

Trend Bearish