06:18 UTC
Corrective decline after Q1 top · RSI 44 · price 1.13978
Lower highs off cycle peak, reverting into prior range.
The multi-quarter uptrend from the early-2025 base at 1.0210 topped at the 1.2083 cycle high in Q1, and price has since reverted to 1.14, resting on the 38.2% retracement of that advance. EUR/USD now trades below its W1 EMA(50) with prior supply near 1.1600 capping rallies, and demand is being tested at the 1.1324 YTD-low pivot beneath the 1.1400 psych cap. RSI(14) sits mid-range, offering no weekly extreme.
Support: 1.1324
Resistance: 1.1400, 1.1600, 1.2083
What it said to watch
- Weekly close below 1.1324 confirms a lower low and extends the reversion
- Reclaim of the 1.1400 psych cap needed to stall the corrective decline
- Thu Eurozone Q2 GDP/HICP prints could reshape the weekly read