Saad Ullah
EUR/USD has rallied strongly in recent sessions but is now running into trouble near the 1.1600 mark. The chart shows clear rejection at a key resistance zone and an order block, hinting that institutional sellers might be stepping in. Traders are now watching to see if this setup triggers a move back down toward lower support areas.
EUR/USD Technical Outlook
Following its latest rally, the pair has hit a wall around 1.1600. Trader Lemayian recently highlighted this as a critical zone where buying momentum stalled. Price tried to push through the 1.1597–1.1600 area but couldn't hold, running into an order block that's now acting as a ceiling.
Immediate resistance sits right at 1.1600, where sellers have shown up, while the order block just below reinforces the bearish tone. If the pair starts pulling back, first support should come in around 1.1520–1.1540, which served as a launch pad for the recent move higher. Below that, 1.1470 becomes the next logical target if selling pressure picks up. The green zone on the chart maps out a bearish scenario with decent risk-reward for traders looking to short into lower levels.
Market Context
The euro's inability to extend its gains reflects what's happening in the broader market. The U.S. dollar has stayed firm thanks to solid Treasury yields and cautious investor sentiment. Meanwhile, disappointing growth data out of the eurozone has kept a lid on the single currency's upside potential, leaving EUR/USD exposed to pullbacks whenever it hits resistance.
Saad Ullah
