Key Highlights
- EUR/USD is attempting to recover from 1.1540.
- A short-term bullish trend line is forming with support at 1.1610 on the 4-hour chart.
- GBP/USD is again moving below the 1.3360 support.
- Bitcoin is gaining pace above the $113,500 resistance.
EUR/USD Technical Analysis
The Euro found support near 1.1540 against the US Dollar. EUR/USD is slowly moving higher above 1.1600 but faces many hurdles.
Looking at the 4-hour chart, the pair traded above the 38.2% Fib retracement level of the downward move from the 1.1728 swing high to the 1.1576 swing low. On the upside, the pair faces resistance near the 1.1650 level and the 100 simple moving average (red, 4-hour).
The next hurdle could be near 1.1690 and the 200 simple moving average (green, 4-hour). It is close to the 76.4% Fib retracement level of the downward move from the 1.1728 swing high to the 1.1576 swing low. A close above 1.1690 resistance might push the pair to 1.1750.
If the pair fails to clear 1.1650, it could resume its decline. On the downside, the pair might find support at 1.1610. The main support might be 1.1540.
A close below the 1.1540 zone could start a major pullback toward 1.1500. Any more losses might open the doors for a test of 1.1440.
Looking at GBP/USD, the pair started a recovery wave, but the bears might remain active below the 1.3480 and 1.3500 levels.
Upcoming Key Economic Events:
- US Durable Goods Orders for Sep 2025 – Forecast +0.3% versus +2.9% previous.
- Dallas Fed Manufacturing Business Index for Oct 2025 – Forecast -8.5, versus -8.7 previous.
