The EURUSD moved higher earlier in the session, finding support and basing in the Asian Pacific session at a confluence of technical levels — a swing area and the 38.2% retracement of the recent move near 1.1541–1.1546 (with the retracement level specifically at 1.15448). Buyers pushed the pair up to test a resistance zone between 1.1576 and 1.1593, where the rally stalled after reaching a session high of 1.1583.
Since then, the pair has reversed lower, returning to retest the earlier support cluster around 1.1541–1.1546, which now also aligns with the falling 200-hour moving average. The decline has paused at that zone for the moment.
Looking ahead, a break below 1.1541 would likely trigger further downside momentum and shift control back to sellers, with the 100-hour moving average at 1.1523 serving as the next target (it also lies within a broader swing area). On the other hand, if the pair holds support, buyers may attempt another push toward the 50% retracement at 1.1568, followed by resistance in the 1.1576–1.1593 region.
