The EURUSD is pushing higher late in the session, extending its recovery as London and European traders begin to wind down for the day. The pair has made its way back toward the key technical cluster defined by the 100-day moving average at 1.16417, as well as a swing area between 1.16449 and 1.16596. This region also includes the 50% midpoint of the range since the August 1 low at 1.16544, adding further weight to its importance from a technical perspective.
To build on today’s upside momentum, buyers need to get and stay above this zone. A sustained move above would shift the bias more decisively in favor of the bulls, opening the door toward additional topside targets and signaling a potential change in short-term sentiment.
However, failure to hold above this key resistance band — particularly if the price falls back below the 200-hour moving average — would likely invite renewed selling pressure. That would mark a second failed attempt to clear the same region, which could embolden sellers and reestablish the downside bias.
For now, the EURUSD sits at a critical juncture: buyers are testing the boundaries of control, while sellers are looking for signs of exhaustion near the 100-day MA and the midrange retracement. The next few hours of trading will likely determine whether this latest rally is the start of something more durable or just another fade into resistance.
