EURUSD – Buyers Remain in Control, Awaiting Confirmation Signal

13 Jun

The EURUSD pair posted a slight pullback after reaching the upper resistance zone of the ascending channel around 1.16130 on June 12. However, the bullish structure remains intact, with higher lows and clear respect for the upward channel on the 8H chart.

Technically, the 1.14590 zone — which aligns with both the trendline and the EMA34 — will act as a key support area. If the price holds this level and rebounds, the likelihood of retesting the 1.16130 high is strong. Conversely, a break below 1.14590 could trigger a deeper correction.

On the fundamental side, the euro is supported by expectations that the ECB will maintain its current interest rates, while cooling U.S. CPI data has weakened the dollar.

13 Jun

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