The EURUSD extended its downside momentum, accelerating away from the 100-day and 200-day moving averages at 1.1694 and 1.1664. That rejection of key longer-term levels reinforced the bearish bias and opened the door for a deeper move lower.
Sellers pushed the pair through the 2026 low at 1.1576, triggering additional downside pressure. The decline did not stall until reaching 1.1531, marking a fresh cycle low and confirming that downside momentum remains firmly in control.
The bounce that followed has carried the price back above the prior 2026 low at 1.1576. That reclaim gives buyers a modest foothold and some short-term confidence. However, the recovery remains corrective for now.
For the bias to shift toward a more neutral footing, buyers need to clear additional resistance levels — including 1.1619 and the falling 200-bar moving average on the 5-minute chart. A break above those levels would signal that buyers are at least regaining balance with sellers rather than simply benefiting from short-covering.
In the video above, I walk through the key technical levels, explain why those upside targets matter, and outline what needs to happen for buyers to wrestle back more meaningful contro
