EURUSD is holding steady above the 1.1500 level following its recent strong rally. The fact that the price consistently maintains higher lows while remaining above the EMA34 and EMA89 indicates that buying pressure persists in the market.

On the macro front, the US dollar remains under pressure as US yields cool and expectations grow that the Fed might adopt a softer stance should economic data weaken. This continues to support EURUSD's upward momentum in the short term.

My preferred scenario is for the price to pull back to 1.1500, then rebound and continue towards the 1.1575 zone. A decisive break below this support level would weaken the current bullish structure.