The price zone around 1.1500 - 1.1600 stood as a reference zone where a weekly high was recorded before another bearish decline could occur towards 1.0800.
This is where a short-term bullish pullback was initiated and executed towards 1.1150.
The price levels around 1.1150 hindered further bullish movement followed by an aggressive bearish move towards 1.0500.
Failure to persist below the newly-recorded LOW at 1.0350 enabled another bullish pullback towards 1.0780-1.0800 where short-term bearish rejection is being expressed.
The EURUSD pair remains under bearish pressure to re-test the newly recorded low at 1.0350. However, any bullish breakout above 1.0800 should be considered as a valid BUY signal
