EUR/USD Analysis. The EUR/USD pair has been trading in a bearish consolidation range over the past few hours, after breaking the 1.1285 support level, which had been a technical support base in previous sessions. This comes as upward pressure on the US dollar continues amidst the US inflation data expected for the week.
EUR/USD Analysis: Technical Overview
The pair is currently trading near 1.1243 after a limited rebound from the session low of 1.1210. Despite the current consolidation, the price remains below the major moving averages (50, 100, and 200) on the H1 timeframe, maintaining a negative bias unless 1.1258 is breached again.
Technical Indicators Analysis:
MACD: Showing moderate bullish momentum after a positive crossover, supporting the possibility of testing nearby resistance.
Stochastic: Moving up from oversold areas, indicating room for further upside in the short term.
Moving Averages: The price remains below all moving averages, indicating a weak overall structure so far.
EUR/USD Analysis : Expected Scenarios
Positive Scenario:
If the price can hold above 1.1235 and break above 1.1258, we may see 1.1285 as the next resistance level, followed by a local top at 1.1310.
Negative Scenario:
A break of the 1.1210 support could open the way for further declines towards 1.1175 and then 1.1155, especially if positive US data strengthens the dollar.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | EURUSD |
| 1.12588 | 1.12387 | Entry point |
| First resistance: 1.12815 | First support: 1.12102 | Target Point 1 (TP1) |
| Second resistance: 1.13115 | Second support: 1.11802 | Target Point 2 (TP2) |
| 1.12387 | 1.12588 | Stop Loss (SL) |
The EUR/USD pair is trying to regain its balance, but remains under clear pressure below 1.1258. A break of 1.1210 will restore the sellers’ control, while a break of 1.1258 could give buyers an opportunity to target 1.1285 again. We recommend monitoring price action around these key points during the early New York session.
