EUR/USD has pulled back into the 1.1395 support zone after losing the ascending trendline that guided price through most of the year. This break of structure signals a shift from bullish momentum to a more neutral or corrective phase in the short term.
On the daily chart, price is currently trading below the 50-day moving average while sitting just above the 200-day, showing that buyers are still defending the broader uptrend but momentum is not strongly bullish anymore. The market is now ranging between resistance at 1.1665 and support at 1.1395, forming a consolidation zone.
If EUR/USD fails to hold 1.1395, the next key downside levels align with prior price memory and weekly structure around 1.1190 and 1.1020. These zones would likely attract dip buyers if tested, as they sit near the long-term broader higher-low trend structure visible on the weekly timeframe.
However, reclaiming 1.1665 and holding above it would signal stabilization and likely continuation back toward the previous swing highs near 1.1823 / 1.1896. Any move higher without reclaiming 1.1665 first is likely just noise or corrective retracement.
Key Levels I’m Looking:
Resistance levels: 1.1665, 1.1823, 1.1896, 1.2250
Support levels: 1.1395, 1.1190, 1.1020, 1.0656, 1.0222
On the weekly timeframe, the broader trend remains bullish as long as price holds above the green support region and the moving averages continue to slope upward. The current retracement appears healthy for now but the market needs to hold above 1.1395 to maintain that narrative.
My Takeaway:
EUR/USD is still technically in a broader bullish structure on higher timeframes, but short-term momentum is neutral to slightly bearish. Watch how price behaves at 1.1395 holding it keeps buyers in the game; losing it opens deeper downside.