EURUSD Technical Analysis

EURUSD remains within well-defined trading ranges, recently closing again near the resistance area of 1.1265 to 1.1275. Buyers made a brief push yesterday, reaching up to 1.1280, but couldn’t maintain that level, leading to a downward rotation.

Even with this drawdown, losses seem limited for now. Today’s lows are closely monitoring a significant confluence of moving averages: the 100-hour MA at 1.1207 and the 200-hour MA at 1.1199, which are currently acting as barometers for any downward momentum. If the price falls below these points, potential support targets are located around 1.1145, and should selling pressure increase, another target could be 1.1064, the low from last week.

On the flip side, as long as the pair stays above the 100 and 200-hour moving averages, buyers still have a shot. For EURUSD to take back some control, it needs to convincingly break through the 1.1265–1.1275 resistance range. The swing high from yesterday at 1.1280 opens the possibility for rallying toward the 1.1344 area, which aligns with the trend line.

Currently, the short-term sentiment leans slightly bullish, given the position relative to important moving averages, but actual directional breakouts are necessary to confirm this bias.

Key Levels

• Resistance:

  • 1.1265–1.1275 (Key upper limit)

  • 1.1280 (Swing high since May 19th)

  • 1.1344 (Trend line)

  • 1.1402 (Next extended target)

• Support:

Bias: