After the previous strong rally, EURUSD has entered a consolidation phase just below the short-term descending trendline. Price continues to move within a narrow range, showing that neither buyers nor sellers are ready to trigger a decisive breakout.

What stands out is that selling pressure still appears whenever price approaches the trendline, but sellers have also failed to push price below the support zone. This suggests that bearish momentum is gradually slowing, while the market still needs further confirmation before choosing its next direction.

If EURUSD fails to break above the descending trendline during the upcoming tests, I expect price to face another rejection and pull back toward the 1.1470–1.1480 support area. On the other hand, a decisive breakout above the trendline would weaken the corrective scenario and give buyers an opportunity to regain control.

This is only my personal view based on technical analysis. Wishing you successful trading!