The EURUSD attempted a move higher earlier today but failed to sustain a break above the key swing area between 1.1265 and 1.1276. This zone, which had previously acted as a support floor and more recently as resistance, once again attracted sellers, leading to a downside reversal.

Following the rejection at resistance, the pair has rotated lower and is now testing a key support zone defined by the 200- and 100-hour moving averages, currently at 1.1208 and 1.1197, respectively. These levels will serve as important short-term bias indicators. Holding above the MAs would keep the door open for renewed upside attempts. However, a sustained move below would tilt the bias back in favor of the sellers.

Should the pair break below the moving average cluster, attention will turn to the Friday low at 1.1130, followed by the low from last week at 1.10636, and then the 38.2% retracement of the January 2025 low to the April high at 1.10395.

Summary:

• Resistance Targets:

  • 1.1265–1.1276: Key swing area; failed break today; former support turned resistance

  • 1.1345: Trendline resistance

  Support Targets:

  • 1.1208: 200-hour moving average

  • 1.1197: 100-hour moving average

  • 1.1130: Friday’s low

  • 1.10636: Low from last week

  • 1.10395: 38.2% retracement of the move up from the January 2025 low