Looking at EUR/USD on the H1 chart from my own perspective, I see the pair currently trading around 1.1596 after printing a high near 1.1605 and a low around 1.1587. The latest movement feels relatively tight, with a range of roughly 15–20 pips, which tells me the market is slowing down a bit after the recent push upward. What catches my attention first is the strong reaction from the support zone around 1.1490–1.1500. Price dropped to 1.1493 and then bounced sharply from that level. From 1.1493 up to around 1.1605, we’re talking about nearly 110 to 120 pips of bullish movement, which is a solid recovery and shows clear buying interest from that zone. After that push, price started to move sideways between 1.1550 and 1.1600. This range is about 50 pips, and I see it as a short-term consolidation area. Every time price dips toward 1.1550, buyers step in, and when it moves closer to 1.1600–1.1610, it struggles a bit to break higher.
For me, the key resistance right now is around 1.1605–1.1610. If price manages to break above this zone with a clean close, I’d expect a continuation toward 1.1630 and maybe even 1.1650,. On the other hand, support sits near 1.1550 first, then stronger support again at 1.1500. If price breaks below 1.1550, I think we could see a move back down toward 1.1500, which would be around 50 pips lower. Looking at the indicators, the MFI is around the mid to slightly higher levels, which suggests the market isn’t oversold but also not extremely overbought. The A/D line moved up during the rally from 1.1490, showing some accumulation, but it has started to flatten recently. OBV also increased during the bullish move, but now it’s not rising as strongly, which matches the current consolidation. Honestly, from how I see it, the market is still holding a bullish structure after that bounce from 1.1490, but right now it’s clearly pausing. I’d personally wait for a clear break above 1.1605 for continuation, or a drop below 1.1550 to consider a short-term pullback.
