EUR/USD Pulls Back Amid Bullish Economic Indicators

The EUR/USD currency pair experienced a pullback from its session highs of around 1.1679 to trade at approximately 1.1652 on Wednesday.

This move occurred within a descending channel formation on the 60-minute chart, with the pair now trading below the 100-hour moving average line but avoiding oversold levels on the 14-hour RSI.

The US economy reported stronger-than-expected durable goods orders for July, while the EU saw improved economic indicators from Germany's GDP and IFO business climate indices.