EUR/USD - Technical Analysis

The pair is currently being traded near the support line of 1.3777 and after yesterday's rally the daily chart shows signs of a correction in the bearish trend. The MACD histogram has breached above the 0 line, indicating the potential for the price to move higher. This move is supported by the 7-day Relative Strength Indicator that has moved into the oversold region and has since broken above the 30 line. Traders may want to scale back their bullish positions or go long on the pair today to catch the potential correction.