EURUSD remains weak, with the price consistently capped below the downtrend line. Following the previous sharp decline, the current rebound has been limited and insufficient to alter the short-term structure.

On the macro front, the US dollar is supported by a recovery in US yields and a cautious sentiment ahead of key labor market data, whereas the euro lacks a sufficiently strong catalyst to shift the current balance.

If EURUSD continues to face rejection near the 1.1527 level, I expect the price to retreat and test the 1.1500 area. As long as the price remains below the downtrend line, the bears retain the advantage.