Alex Bobrov
⬤ Euro fell during European hours, sliding back under the 1.19 mark as the US dollar surged across the board. The move came after news broke about Warsh's nomination as the next Federal Reserve chair, giving the greenback a strong boost globally. The pullback has dragged EUR/USD toward the midpoint of its 2026 range—an area that lines up with zones that mattered back in July, September, and December 2025.
⬤ The chart shows euro pulling back from recent highs and settling near this middle ground, which reinforces why this area matters technically. The pair is clearly reacting to changing expectations around Fed policy, especially with new leadership on the horizon. This whole decline is happening during what's already a data-packed week, so volatility could ramp up even more as traders digest incoming macro signals.
⬤ For support, the first zone to watch sits between 1.1830 and 1.1810. If price breaks cleanly below that, the next test would be the more significant 1.1770 to 1.1745 region, which lines up with earlier structural levels shown on the chart. On the resistance side, the key area runs from 1.1890 up to 1.1915–1.1920. Getting back above this zone would suggest the late-January drop is just a correction rather than the start of something bigger.
⬤ This matters because EUR/USD is still one of the best gauges for global currency sentiment and policy direction. With more potential commentary from the Fed chair nominee coming and several economic releases lined up, how the pair behaves around 1.18 to 1.19 will likely drive near-term moves and determine whether it stays range-bound or breaks into a clearer trend.
Alex Bobrov
