EURUSD trapped between swing area support and moving average resistance

The EURUSD continues to find solid support in the 1.1663 to 1.1691 zone, a key technical floor that dates back to April–November 2021. The pair has repeatedly tested this area this week, with buyers stepping in on each dip, reinforcing its significance. A break below this support zone would be needed to shift the short-term bias more clearly to the downside.

On the upside, the pair has pushed back toward the 100-hour moving average (blue line, currently near 1.1713), but sellers have leaned against that level, capping momentum and keeping the price confined. The 200-hour moving average, now near 1.1745, adds another layer of resistance. For now, price action remains trapped between well-defined boundaries—support below and key moving average resistance above.

A break below support would open the door to further downside targets, including the 1.1614–1.1629 swing area, followed by the 1.1568–1.1578 zone, and then the 38.2% retracement of the May-to-July move at 1.15357.

Conversely, if buyers can push the price above both the 100-hour and 200-hour moving averages, it would shift the bias back in their favor, with the pair then targeting the upper extreme for the year, capped most recently at 1.1827.

Until we see a decisive break above resistance or below support, traders should expect more rangebound trading within this well-established technical zone.