EURUSD Price Succumbs to Negative Pressure – Analysis

The EURUSD pair declined in recent intraday trading after failing to break the key resistance level at 1.1655, which remained firm and pushed the pair lower again amid the continued dominance of the short-term corrective bearish trend. The EMA50 also continues to apply negative dynamic pressure as the pair trades below it, reinforcing the bearish outlook and limiting chances of a near-term recovery.

Meanwhile, relative strength indicators have started showing negative signals, with a bearish divergence forming after reaching heavily overbought levels, alongside the ap