EURUSD failed to sustain earlier gains as price action today stalled just ahead of the 200-hour moving average (green line on the chart above) and the lower boundary of a key swing zone between 1.12657 and 1.1275. Sellers leaned into the level and have since pushed the pair back toward the 100-hour moving averages
The current focus is on the swing area between 1.1193 and 1.1213, which previously marked key highs from 2024 (not shown). A confirmed break below this zone – and the 100 hour MA at 1.11876 – would be technically significant and likely accelerate selling momentum.
On the downside, immediate targets include the 1.1145 support area followed by the weekly low near 1.10648. These levels could attract additional sellers if the current pressure persists. To shift momentum back to the upside, EURUSD would need to reclaim 1.1213 and the 200 hour MA (and stay above) at 1.12578.
Key technical levels:
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Resistance: 1.1213, 200-hour MA at 1.12578, 1.12657–1.1275 (swing area)
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Support: 1.1193–1.1213 (swing zone), 1.11876 (100-hour MA), 1.1145, 1.10648
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Bias: Bearish below 1.1213; intensifies under 1.11876
The sellers remain in control as long as price stays capped below 1.1213. Watch for follow-through below key supports to confirm bearish continuation.
This article was written by Greg Michalowski at www.forexlive.com.