⬤ EUR/USD reversed sharply after hitting resistance near 1.1898, marking a clear shift in momentum. The pair rallied hard before stalling at this key level and beginning its pullback into the previous rising formation. The rejection at resistance kicked off what looks like a corrective phase in the short term.
⬤ After failing to break above the resistance zone, EUR/USD slipped back inside its prior price structure, losing upward steam. The pair dropped below short-term moving averages as sellers stepped in following the peak. This looks more like a technical pullback than any major trend reversal, since price is still trading within the broader ascending channel.
⬤ All eyes are now on the 1.17330 level—a critical SR-FLIP zone where old resistance could turn into support. A move down to this area would mean roughly a 0.92 percent decline from the recent high. This level lines up with the lower edge of the channel, making it even more significant as the pair pulls back within its larger uptrend.
