Nataly Kambur
⬤ EUR/USD got smacked down right after poking above 1.19, proving the range isn't going anywhere yet. The pair tried pushing higher but couldn't hold ground above 1.1910-1.1920 before sliding back down. That rejection happened exactly where resistance has been sitting for weeks, so no real surprise there.
⬤ Now traders are watching the downside to see if this rejection turns into something bigger. The first warning sign would be a drop below 1.1830-1.1820, where previous price action clustered and moving averages line up.
⬤ The real deal-breaker sits at 1.1800-1.1810. This zone has been the make-or-break level for months, separating range support from actual selling pressure. If EUR/USD falls through here and stays below, we're looking at genuine downside momentum. But if it bounces off again, expect another attempt at the top of the range.
⬤ Without confirmation of the downside move, the pair could easily swing back up toward 1.1975-1.2000, which is the next major resistance ceiling. Until one of these levels clearly breaks, EUR/USD will likely keep bouncing between 1.18 and 1.20, reacting to these well-established technical boundaries.
Nataly Kambur
