Moving forward, the primary bullish objective is a retest of the critical 1.1750–1.1800 resistance shelf; a sustained weekly close above this zone would confirm a bullish breakout and reopen a path toward the 1.2050 highs. Conversely, if upside momentum stalls and price gets rejected at the 1.1750–1.1800 band, expect another downward rotation toward the internal support at 1.1400, with risk extending back down to the descending trendline near 1.1300.
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EUR/USD is currently consolidating within a multi-month descending wedge/broadening structure following its strong run-up from 1.0600 in early 2025. The pair has established a distinct horizontal ceiling between 1.1750 and 1.1800, while the downward-sloping lower boundary has consistently provided dynamic support. The recent series of strong weekly bullish candles off the 1.1330–1.1350 support base indicates active dip-buying and upward mean-reversion momentum toward the mid-range of 1.1635.
Moving forward, the primary bullish objective is a retest of the critical 1.1750–1.1800 resistance shelf; a sustained weekly close above this zone would confirm a bullish breakout and reopen a path toward the 1.2050 highs. Conversely, if upside momentum stalls and price gets rejected at the 1.1750–1.1800 band, expect another downward rotation toward the internal support at 1.1400, with risk extending back down to the descending trendline near 1.1300.
Wed, 19 Aug 2026 12:59:54 GMT
Source: Dukascopy Bank SA
Moving forward, the primary bullish objective is a retest of the critical 1.1750–1.1800 resistance shelf; a sustained weekly close above this zone would confirm a bullish breakout and reopen a path toward the 1.2050 highs. Conversely, if upside momentum stalls and price gets rejected at the 1.1750–1.1800 band, expect another downward rotation toward the internal support at 1.1400, with risk extending back down to the descending trendline near 1.1300.
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