FX.co ★ EUR/USD

EUR/USD H4 Technical Analysis – Price Approaching Key Resistance Zone The EUR/USD pair is showing signs of recovery after weeks of consistent bearish pressure. On the H4 timeframe, we can clearly see that the price has formed a solid base around the 1.1530 – 1.1550 support area, which acted as a strong demand zone. Since then, buyers have managed to push the pair higher, creating a short-term bullish structure with higher highs and higher lows. At the current level near 1.1655, the market is approaching a key resistance zone that previously acted as support during late September. This level is psychologically important and could determine whether the recent bullish correction continues or fades away. If buyers successfully break and close above 1.1670, the next potential upside targets could be 1.1720 and 1.1760. This would confirm that momentum is shifting in favor of the bulls, possibly aiming for a deeper retracement of the previous downtrend.

However, if the price fails to sustain above 1.1650 – 1.1670, we might see sellers stepping back in, leading to a possible retest of 1.1600 or even the 1.1550 zone again. Volume confirmation and candlestick reactions near this resistance should be closely monitored before entering any new trades. In summary, EUR/USD is currently at a decisive point. A confirmed breakout above resistance could extend the recovery, while rejection at this level might trigger another bearish leg. Traders are advised to stay cautious and wait for a clear H4 close before making directional decisions. Key Levels: Support – 1.1550 / 1.1600 Resistance – 1.1670 / 1.1720