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EUR/USD Recovers But Upsides Could Be Capped At 1.1650

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Aayush Jindal

Key Highlights

  • EUR/USD found support at 1.1400 and started a recovery wave.
  • A key bearish trend line is forming with resistance at 1.1640 on the 4-hour chart.
  • GBP/USD tumbled below the 1.3500 and 1.3440 support levels.
  • Gold prices are moving higher above the $3,350 resistance zone.

EUR/USD Technical Analysis

The Euro started a fresh decline below the 1.1550 level against the US Dollar. EUR/USD declined below 1.1500 before the bulls appeared.

Looking at the 4-hour chart, the pair tested the 1.1400 level. It settled below the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour).

A low was formed at 1.1391 and the pair is now attempting to recover. There was a move above the 1.1480 resistance zone. The pair climbed above 1.1550 and tested the 50% Fib retracement level of the downward move from the 1.1788 swing high to the 1.1391 low.

On the upside, the pair now faces resistance near the 1.1600 level. The next key resistance sits near the 1.1650 level. A close above the 1.1650 level could set the pace for another increase.

In the stated case, the pair could rise toward the 1.1780 resistance. The next major stop for the bulls could be near the 1.1850 resistance.

On the downside, immediate support is near the 1.1520 level. The next key support sits near 1.1450. Any more losses could send the pair toward the 1.1400 support zone.

Looking at GBP/USD, the pair is showing bearish signs and might decline below the 1.3200 support zone.

Upcoming Economic Events:

  • Euro Zone Sentix Investor Confidence for August 2025 - Forecast 4.5, versus 4.5 previous.
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