Saad Ullah
The euro-dollar pair saw heavy selling during the New York session, dropping quickly from 1.1750 to the critical 1.1700 level. The steep move highlighted strong dollar demand, but a late bounce suggests buyers are still active around major support zones.
Technical Breakdown
Trader david notes that the chart shows red arrows marking aggressive sell momentum, with successive lower prints pushing EUR/USD into oversold conditions.
Volume spiked during the drop, pointing to heavy short-term liquidation. Around 1.1700, though, blue arrows signal buy absorption - bulls defended support. Resistance sits at 1.1740–1.1750 where the breakdown started, while 1.1700 remains the immediate floor to watch. A break under 1.1690 opens the door toward 1.1650.
Market Context
This reversal reflects how U.S. session liquidity often drives sharp directional moves. The euro continues facing weak economic momentum across Europe, while the dollar stays supported by firm U.S. rate expectations.
What's Next
EUR/USD will likely chop between 1.1700 and 1.1750 for now. A close above 1.1750 could spark a short-term recovery, while losing 1.1700 may invite more selling. Traders should watch for volatility spikes, especially during New York hours.
Saad Ullah
