Eseandre Mordi
⬤ EUR/USD surged after breaking cleanly above the 1.1780 to 1.18 resistance area, flipping the short-term technical picture bullish. The pair is now trading near 1.186, showing solid momentum after the breakout. This move has brought EUR/USD within striking distance of its 2025 high and into technically significant territory.
⬤ The rally has pushed EUR/USD toward the 78.6 percent retracement of the 2018 to 2022 decline, sitting around 1.1910 to 1.1915. This zone stands out as a critical resistance area where previous price action and Fibonacci levels meet. The break above 1.18 marked a meaningful shift, clearing a level that had repeatedly capped upside and opening the door for further gains.
⬤ Beyond 1.1910 to 1.1915, there's a descending trendline from the 2018 peak, currently sitting near 1.1975. This trendline represents the next potential barrier if the rally continues. On the downside, shorter-term support sits at 1.1805 to 1.1810, with a broader support zone between 1.1775 and 1.1790. These levels line up with recent consolidation and the former breakout area, making them key spots to watch for maintaining the current bullish structure.
⬤ This price action matters because EUR/USD is a core benchmark for global currency markets. When the pair approaches multi-year highs, it can shift broader market sentiment and spike volatility. The way price interacts with these clearly defined resistance and support zones will likely shape near-term direction as EURUSD trades near historically significant levels.
Eseandre Mordi
