The EURUSD continues to find solid support in the 1.1663 to 1.1691 zone, a key technical floor that dates back to April–November 2021. The pair has repeatedly tested this area this week, with buyers stepping in on each dip, reinforcing its significance. A break below this support zone would be needed to shift the short-term bias more clearly to the downside.
On the upside, the pair has pushed back toward the 100-hour moving average (blue line, currently near 1.1713), but sellers have leaned against that level, capping momentum and keeping the price confined. The 200-hour moving average, now near 1.1745, adds another layer of resistance. For now, price action remains trapped between well-defined boundaries—support below and key moving average resistance above.
A break below support would open the door to further downside targets, including the 1.1614–1.1629 swing area, followed by the 1.1568–1.1578 zone, and then the 38.2% retracement of the May-to-July move at 1.15357
