The EURUSD dipped in the early U.S. session, briefly breaking below support at 1.1698–1.1703. The decline extended to 1.1692 before rebounding back above the 1.1703 mark. The recovery pushed the pair to a session high of 1.1723, but momentum has since faded, and the price has rotated lower again.
I continue to view 1.1698–1.1703 as a pivotal short-term level. Holding above this zone keeps the upside bias intact and favors buyers. However, a sustained break back below would weaken that bias, and I’m less confident the earlier dip-and-bounce pattern would repeat.
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