The pair is currently fluctuating near the 61.8% retracement of the April high to the May low at 1.13781. This level is reinforced by a prior swing high and last week’s peak, making it a pivotal barometer for short-term directional bias. Price is oscillating above and below this zone, indicating indecision.
To resume bullish momentum, EURUSD would need to push above 1.14238, which opens the door toward the next upside target at 1.14392. Move above those levels and the swing high from April 11 at 1.14723 would be eyed.
1.14181 – Today’s session high
1.14392 – Next upside target on a break above 1.14238
Support Levels:
1.13620 – Secondary support; break below adds to bearish pressure
1.13183 – 50% retracement level of the same April-to-May range
These levels define the key technical zones to monitor for directional breakouts or continued consolidation.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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