Currencies are recovering some of Monday's sharp movements. Coordinated efforts by central banks to calm markets have provided a much-needed lift, but the sustainability of this rally remains in question amid ongoing economic challenges.

Technically, although buyers have made aggressive attempts to pass the resistance range, the price has remained within its limits. If no new triggers appear in the information field, provoking purchases and the refusal of Euro sellers to hold positions, it is quite possible to expect the development of a wave of decline in the pair from current levels.