EUR/USD Rebounds Strongly From 1.1540 Support Toward 1.1720

The euro has shown impressive resilience in recent sessions, bouncing back from a significant selloff and climbing toward the 1.1720 area. After testing critical support levels, the pair has attracted renewed buying interest, suggesting a potential shift in near-term momentum. This recovery has caught traders' attention as it marks a notable change from the recent bearish pressure that dominated the market.

Euro Finds Strong Support and Recovers

Trader Techriz recently pointed out the potential for EUR/USD to stage a meaningful comeback following its deep pullback.

The pair initially dropped to 1.1540 before reversing sharply, reclaiming lost territory and hinting at further upside potential.

This turnaround suggests that buyers have re-entered the market after an extended period of weakness, with the recovery gaining traction as the pair moves through key technical zones.

Chart Analysis: From Downtrend to Upside Momentum

The technical picture reveals a dramatic shift in sentiment. The pair first broke through several fair value gaps before finding solid footing near 1.1540, which acted as a reliable floor. From there, EUR/USD launched a swift comeback, climbing above 1.1700 and touching highs around 1.1720–1.1728 while filling multiple FVG zones that had opened during the decline. The next meaningful resistance sits at 1.1780, a level that's previously limited upward progress. If the euro can push through that ceiling, it could pave the way toward 1.1800 and higher. The speed of this rebound underscores strong buying pressure, with the pair recovering ground it had lost earlier in October.

Why EUR/USD Is Moving This Way

This reversal reflects shifting market sentiment around monetary policy expectations and broader risk appetite. Weaker U.S. economic data has put pressure on the dollar, while the euro has benefited from expectations of steady policy in the eurozone. Traders are viewing this technical bounce as an opportunity for extended gains if the momentum continues to build. The recovery suggests that EUR/USD might push higher without strict near-term profit targets, leaving space for increased volatility.