EURUSD Technical Analysis: Price fails at ceiling once more, eyes cluster of MA help | Forexlive

The EURUSD continues to commerce inside a well-defined vary, with worth motion capped as soon as once more on the resistance zone between 1.1265 and 1.1275—a degree that has repeatedly stalled upside makes an attempt. Buyers briefly pushed by this zone yesterday, reaching a excessive at 1.1280, however failed to carry above, and the pair has since rotated decrease.

Despite the retreat, the draw back stays restricted. Today’s low was supported forward of a key confluence of transferring averages, with the 100-hour MA at 1.1207 and the 200-hour MA at 1.1199 appearing as the present barometer for draw back momentum. A sustained transfer beneath these ranges would tilt the bias extra firmly in favor of sellers, exposing help targets at 1.1145, adopted by the low from final week at 1.1064.

On the flip aspect, consumers nonetheless have an opportunity whereas the pair holds above the 100/200-hour MAs. To regain broader management, EURUSD would want to interrupt convincingly above the 1.1265–1.1275 resistance zone, after which the swing excessive from yesterday at 1.1280, to open the door towards 1.1344 space (development line)

For now, the short-term bias is modestly bullish above the important thing transferring averages, however a directional breakout remains to be wanted.

🔑 Key Levels

• Resistance:

  • 1.1265–1.1275 (key ceiling)

  • 1.1280 (swing excessive from May 19)

  • 1.1344 (development line)

  • 1.1402 (subsequent extension goal)

• Support:

📊 Bias: