EUR/USD Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
EUR/USD chart shows price transitioning from a short-term bearish markdown into a consolidation and basing phase, having successfully formed a structural floor between 1.1595 and 1.1600. After a sharp, impulsive rally that spiked to test key overhead pivot resistance at 1.1640, the pair underwent a healthy pullback to find solid dynamic support at the flattening 30-period Simple Moving Average, which currently sits just below the market price at 1.16173. With the current price trading at 1.16217, the immediate market bias is cautiously bullish; a sustained hold above the 1.1610 support zone keeps a retest of 1.1640 in play, whereas a break back below the SMA would likely force a re-evaluation of the lower 1.1600 boundaries.



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