Usman Salis
⬤ EUR/USD keeps trading within its broader ascending trend, though recent moves show consolidation after the latest rally. The pair is drifting sideways with a slight downward tilt, suggesting a digestion phase rather than any reversal. Price is settling around the Point of Control (POC) and short-term moving averages, pointing to a temporary standoff between buyers and sellers.
⬤ The chart's technical structure shows the primary trend line still holding, which supports the idea that we're seeing a corrective or consolidation phase. EUR/USD hasn't broken out decisively from its recent range, leaving directional clarity limited for now. The POC at 1.1742 stands out as the main equilibrium level where most trading activity has clustered, making it a key near-term reference point.
⬤ Momentum indicators reflect the market's cautious mood. The RSI is sitting around 39, showing weak momentum and getting close to oversold territory without triggering any clear reversal signal yet. Trading volume stays subdued with no confirmation of directional strength, while negative volume delta points to ongoing selling pressure.
⬤ Key technical levels frame what to watch next. Support sits at 1.1715, then 1.1700 and 1.1685, while resistance levels are at 1.1745, 1.1760, and 1.1785. A decisive break beyond this range is needed to establish clearer direction. Until then, EUR/USD's behavior reflects a market in pause mode, where consolidation within an intact uptrend may define near-term dynamics across major currency pairs.
Usman Salis
