EURUSD retests key support zone as bearish pressure mounts | Forexlive

The EURUSD is trading back to the downsideas sellers leaned early against key resistance levels (near 100 and 200 hour MA) and instead pushed toward a critical support zone. The price has now returned to a key support area between 1.1265 and 1.12754, a zone that previously acted as a springboard for upside moves. This level is once again being tested, and its ability to hold will be crucial for near-term directional bias.

The pair remains below both the 100-hour moving average (currently near 1.1339) and the 200-hour moving average (near 1.1327), reinforcing the bearish tone. Over time, unless EURUSD can break back above those moving averages, sellers remain in control at least in the short term.

A break below 1.1265 would increase downside pressure and shift the focus toward the next major target at 1.12505, which corresponds to the 38.2% retracement of the 2024 rally. Further declines would expose support near 1.1200 to 1.1213 and 1.11509, where the 50% retracement level resides.

For bulls to regain control, the price needs to move back above the 100/200-hour MAs.

Support Levels:

• 1.1265–1.1275 = Key support zone

• 1.12505 = 38.2% retracement of 2024 move

• 1.1200–1.1213 = Swing area

• 1.11592 = 50% retracement

Resistance Levels:

• 1.1327 = 100-hour MA

• 1.1339 = 200-hour MA

Watch for price action around 1.1265—this is the battleground for control.

Later this year,
ForexLive.com
is evolving into
investingLive.com, a new destination for intelligent market updates and smarter
decision-making for investors and traders alike.