The EURUSD is pushing to fresh session lows and, in the process, has broken below a key support zone between 1.13908 and 1.14102. The move below that floor shifts the focus to the next downside target—the 38.2% retracement of the rally from the January 2025 low to the January 2026 high—which comes in at 1.13544.
A break below 1.13544 would strengthen the bearish bias further and open the door for additional downside momentum as sellers press their advantage.
What would disappoint the sellers? A quick move back above the former support area at 1.14102. Such a recovery would suggest the downside breakout has failed, forcing sellers to cover and potentially triggering a rebound back to the upside. Traders want to see a break and run, not a break and fail..
