Saad Ullah
The EUR/USD pair finds itself at a pivotal moment as it consolidates around the 1.1693 level. Market participants are closely watching whether the euro can maintain its footing above key technical support or if further downside pressure will emerge. The current price action suggests we're approaching a decision point that could determine the pair's near-term direction.
EUR/USD Price Outlook: Support in Play
Trader @B_trader__ recently highlighted the importance of the current setup, noting that EUR/USD is testing a crucial support zone. The 15-minute chart reveals the pair trading within a 1.1650–1.1750 range, with 1.1690 acting as the immediate floor.
If this support level holds, we could see a bounce toward 1.1710, with potential for further upside into the 1.1735–1.1750 area. However, a break below 1.1690 would shift focus to the next support cluster around 1.1670–1.1650, where buyers might look to step in.
Trader's Speculation: EUR/USD Price Scenarios
The current market uncertainty reflects the delicate balance between bullish and bearish forces. Both scenarios remain on the table depending on how EUR/USD responds to the current support test.
EUR/USD Price Levels to Watch
- Immediate support: 1.1690
- Secondary support: 1.1670–1.1650
- Near-term resistance: 1.1710
- Key resistance: 1.1750
These levels will likely determine the pair's next move as traders await a clear directional signal.
Euro Awaits Breakout Decision
EUR/USD stands at a critical juncture around 1.1690 support. A successful defense could spark a rally toward 1.1710–1.1750, while a breakdown opens the door to 1.1650. The next few trading sessions should provide clarity on whether the euro is ready to recover or faces additional selling pressure.
Saad Ullah
