EURUSD rose in the intraday levels in order to recover some of the past short-term losses, while searching for a bottom to bounce it higher and keep up the upward medium-term trend. The latest climb comes as the pair is affected by breaching the support of that ascending price channel that limited its previous short-term movements, with ongoing negative pressure from the SMA50, while relative power indicators reached extremely overbought levels compared to the pair's own upward movement.

Therefore we expect the stock to return lower in the coming trading, targeting the first support at 1.1220.

Trend Bearish