The EURUSD pair traded in a volatile manner during recent sessions, testing the key resistance level at 1.1575, which represents the neckline of a developing bullish double-bottom pattern. The pair is also attempting to overcome the negative pressure from the EMA50, increasing the importance of this area in determining the next direction.

Meanwhile, relative strength indicators have started to show a bearish crossover after reaching overbought levels, which may limit recent gains and increase the chances of a pullback.