FX.co ★ EUR/USD

I see EUR/USD moving within a clearly defined range on the daily timeframe, where price has been oscillating between established resistance zones above and solid support areas below. From my perspective, the market is not trending aggressively at the moment, and the recent price behavior suggests hesitation rather than strength. As the next trading session opens, I expect the pair to gradually lean back toward its main support zone instead of sustaining any meaningful upside extension. When I look at the structure more closely, I identify a strong resistance zone around 1.1700–1.1770, which has repeatedly limited bullish attempts and attracted selling pressure. I also see an intermediate resistance near 1.1640, where price previously failed to hold daily closes. On the downside, I consider 1.1550–1.1570 an important short-term support area, as price is currently reacting around this level. Below that, I see the primary daily support near 1.1450, a zone that has historically acted as a demand area and slowed bearish moves. From a momentum standpoint, I notice that the RSI (14) remains below the 50 level and is approaching the lower region, which tells me that bearish pressure is still present but not yet overstretched. This suggests to me that the downside still has room to develop without triggering a strong mean-reversion bounce. At the same time, I observe the MACD staying below its signal line and close to the zero level, which I interpret as a sign of weak bullish momentum and confirmation that recent upward moves were corrective rather than impulsive.

Overall, I view the current price action as consolidation within a broader bearish framework. As long as price remains capped below resistance, I believe the market will continue to gravitate toward lower support levels. For now, I remain patient and focused on how price behaves around the main daily support, as that area is likely to determine the next meaningful move for EUR/USD.