The euro is trading around 1.1437, above the 21-day simple moving average (SMA), and is rebounding after finding strong support around that average, following Tuesday's intraday high of around 1.1462 during the US session.

If the euro consolidates above 1.1417 in the short term, it could be expected to continue rising until it reaches the 200-day EMA, around 1.1476.

If the euro reaches the strong 6/8 Murray resistance level, around 1.1475, and also touches the 200-day EMA, we could view this area as a potential opportunity to open short positions, since, technically, it could act as a strong barrier for the euro, and we could expect it to fall to the 5/8 Murray level.

Given that the Eagle indicator shows a negative signal and, in turn, if the euro falls below 1.1417, EUR/USD could continue to decline until it reaches the lower band of the uptrend channel, around 1.1385.

Technically, the euro is likely to continue trading within the uptrend channel in the coming days, so a zone to open short positions could be 1.1476, and a zone to open long positions would be 1.1380. A rebound above the 5/8 Murray level could signal a buying opportunity.