The EURUSD rose during its latest intraday trading, following the stability of the 1.1630 support level, which was our target in the morning analysis. This support provided the pair with some positive momentum, helping it recovers part of its previous losses. At the same time, the pair is attempting to ease its clearly oversold conditions shown by the relative strength indicators, especially with the beginning of a positive crossover signal.

However, the short-term corrective bearish trend still dominates, while negative pressure continues as the pair trades below EMA50, which increases the bearish pressure.