The EURUSD declined slightly during its latest intraday trading, in a corrective move to take profits from previous gains, in attempt to gain positive momentum that might support resuming the rise, attempting to offload some of the overbought conditions on the relative strength indicators, especially with the emergence of negative overlapping signals, despite breaching the top level of the positive technical formation on the short-term basis that is represented by the bearish wedge pattern.

This coincides with continued dynamic support as the pair trades above its EMA50, reinforcing the chances of maintaining positive momentum and extending gains in the upcoming period.

Based on the above, we suggest a rise in EURUSDs price upcoming intraday trading, especially if it remains stable above the 1.1530 support level, targeting the key resistance level at 1.1655.

The expected trading range is between 1.1520 support and 1.1655 resistance.

Today's forecast: Bullish