The EURUSD pair declined during its latest intraday trading, following the gains recorded in yesterdays session as part of attempts to correct the main downward trend. Amid the price moves alongside a minor supportive trendline in the short term.

The pair is still facing negative pressure as it continues to trade below EMA50, which limits the chances of a full recovery in the near term. At the same time, we notice the beginning of a negative divergence forming on the relative strength indicators after reaching overbought levels compared to price movement, along with the appearance of a bearish crossover. This reinforces the likelihood of continued downward pressure.