Sergey Diakov
⬤ EUR/USD has started climbing again within its established intraday range, rebounding from the lower boundary near 1.1620 where the price consolidated before forming a new short-term upswing. This bounce marks a momentum shift after recent declines pushed the pair back to the lower end of its range.
⬤ The chart structure reveals two key reference points: a range low just above 1.1610 and a range high near 1.1670. The pair has lifted from a demand zone close to the bottom, an area that's previously attracted buying interest. As EUR/USD forms higher lows, the intraday setup suggests buyers are trying to regain short-term control, pushing price toward the 1.1640 level. The projected path on the chart shows a gradual climb, indicating the pair could keep advancing while the lower boundary holds firm.
⬤ The hourly timeframe shows EUR/USD has been moving sideways in this horizontal pattern for a while now. The repeated defense of the lower boundary tells us market participants still see this region as meaningful support. While the current move doesn't guarantee a push to the upper boundary, the improving structure points to stabilizing sentiment after the recent pullback. If momentum continues, the pair could revisit the 1.1660-1.1670 zone, completing another full swing within the range.
⬤ This matters because EUR/USD remains one of the most watched currency pairs, and movements inside a defined range often shape market expectations and short-term positioning. A sustained climb from the lower band could influence near-term directional sentiment, particularly if the structure keeps building toward the range high.
Sergey Diakov
