Market Overview:
EUR/USD is attempting a modest recovery after a sharp four-session pullback from the cluster of converging simple moving averages (SMAs), testing levels last seen in July 2025 near 1.1450. Despite this bounce, bearish momentum remains strong, reinforced by a death cross between the 20- and 200-day SMAs.

Technical Indicators:
MACD: Deeply below zero and its red signal line, indicating sustained downside pressure.
RSI: Flattening at oversold levels, signaling limited upside momentum.
Death Cross: Confirms the bearish bias remains intact.

Key Levels to Watch:
Resistance:
Initial: 1.1506 (March 9 trough)
Moderate: 1.1568 (23.6% Fibonacci retracement)
Strong: 1.1667 (SMA death cross & short-term ascending trendline)
Support:
Immediate: 1.1410 (recent closing low)
Medium: 1.1370 (June 10, 2025 swing low)
Broader: 1.1310 – 1.1250 (May lows)

Market Sentiment:
Heightened Middle East tensions and upcoming Fed and ECB policy meetings are keeping traders cautious. Relief rallies are likely to attract renewed selling interest unless EUR/USD breaks above the short-term uptrend line decisively.

Trading Insights:
Traders can focus on short-term opportunities near resistance levels while keeping stops tight below recent lows. Using our VIP Forex Signals, you can identify precise entries, exits, and risk levels in a market still dominated by bearish pressure.

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