The EUR/USD currency pair plunged below 1.1500 in early European trading on Friday, reaching levels last seen in November 2025. The move comes as the US Dollar (USD) benefits from fresh haven demand amid escalating geopolitical tensions in the Middle East.

Iran Conflict Escalates: The Strait of Hormuz remains closed by Iranian forces. Supreme Leader Mojtaba Khamenei has vowed to maintain the blockade and continue attacks, increasing global risk aversion.
Energy Supply Concerns: Brent Oil surged above $100/barrel, while WTI surpassed $90, reflecting fears of disrupted oil flows from the region.
USD Strength: In a risk-off environment, investors are flocking to the USD, adding pressure to EUR/USD and other major pairs.

Key Drivers

Technical Levels
Support:
1.1450 – Next immediate support
1.1390 – Three-month low zone
1.1300 – Key multi-month support

Resistance:
1.1500 – Psychological barrier now turned resistance
1.1550 – Short-term moving average cluster
1.1600 – Key medium-term resistance

Outlook:
Bearish bias dominates as long as EUR/USD remains below 1.1500.
A break below 1.1450 could accelerate downside pressure toward 1.1390–1.1300.
Only a sustained recovery above 1.1550 would indicate short-term stabilization.

Trading Insight
Given the ongoing geopolitical uncertainty and energy market pressures, EUR/USD is likely to remain volatile. Traders should monitor key support and resistance levels closely for potential short-term breakout opportunities.
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