The EURUSD pair declined during its recent intraday trading, continuing its attempts to find a higher low that could form a base and help it gain the positive momentum needed to resume its recovery. This decline came despite the beginning of a positive divergence forming on the relative strength indicators, which didn’t reflect in the pair’s price action as a clear signal of easing negative pressure.

 

The pair is currently leaning on EMA50’s support, which continues to act as a support base and reinforce the dominance of the short-term corrective bullish trend.