EURUSD finds footing at one‑month lows near 1.1600
EURUSD is attempting to stabilise after a four‑session pullback from the 1.1787 area to one‑month lows just above 1.1600, with the euro remaining under pressure against a firmer dollar amid renewed Middle East tensions and risk‑averse conditions.
Momentum indicators point to a pause in selling pressure, with the RSI flattening below neutral and the MACD stabilising around its zero and signal lines.
That said, the pair remains vulnerable after slipping below key levels, including the simple moving average (SMA) cluster and short‑term uptrend.
Resistance starts near the 50‑day SMA at 1.1641 and extends into the 1.1666-1.1745 zone, marked by the 38.2% and 50% Fibonacci retracements of the January-March decline and reinforced by the 20‑ and 200‑day SMAs. A break above this region could reopen the path toward 1.1787.
Support lies at the 1.1600 psychological level, followed by the 23.6% Fibonacci near 1.1568, before deeper losses toward multi‑month lows near 1.1410-1.1450.
Overall, EURUSD is consolidating losses after breaking below its short‑term uptrend, though a recovery toward the SMA cluster and the 1.1700 area could ease downside pressure if support holds.
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