(function() { var didInit = false; function initMunchkin() { if(didInit === false) { didInit = true; Munchkin.init('105-GAR-921'); } } var s = document.createElement('script'); s.type = 'text/javascript'; s.defer = true; s.src = '//munchkin.marketo.net/munchkin.js'; s.onreadystatechange = function() { if (this.readyState == 'complete' || this.readyState == 'loaded') { initMunchkin(); } }; s.onload = initMunchkin; document.getElementsByTagName('head')[0].appendChild(s); })();(function(h,o,t,j,a,r){ h.hj=h.hj||function(){(h.hj.q=h.hj.q||[]).push(arguments)}; h._hjSettings={hjid:1422437,hjsv:6}; a=o.getElementsByTagName('head')[0]; r=o.createElement('script');r.defer=1; r.src=t+h._hjSettings.hjid+j+h._hjSettings.hjsv; a.appendChild(r); })(window,document,'https://static.hotjar.com/c/hotjar-','.js?sv=');

EUR/USD Remains Vulnerable — Further Selling Likely If Dollar Rally Continues

Article background

Aayush Jindal

Key Highlights

  • EUR/USD started a fresh decline below the 1.1600 support.
  • It traded below a major bullish trend line with support at 1.1605 on the 4-hour chart.
  • GBP/USD declined further below 1.3250 and 1.3200.
  • Gold started a consolidation phase near $4,000.

EUR/USD Technical Analysis

The Euro started another decline below 1.1620 against the US Dollar. EUR/USD traded below 1.1600 and 1.1580 to enter a bearish zone.

Looking at the 4-hour chart, the pair settled below 1.1600, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair traded as low as 1.1521 and started a consolidation phase.

On the upside, the pair faces resistance near the 1.1555 level or the 23.6% Fib retracement level of the downward move from the 1.1668 swing high to the 1.1555 low.

The next hurdle could be near 1.1580. A close above 1.1580 resistance might push the pair to 1.1610 and the 100 simple moving average (red, 4-hour). Any more gains could set the pace for a steady increase toward 1.1650.

On the downside, the pair might find support at 1.1520. The main support might be 1.1500. A close below the 1.1500 zone could start a major pullback toward 1.1450. Any more losses might open the doors for a test of 1.1400.

Looking at GBP/USD, the pair is declining, and there are chances of more losses below the 1.3120 level in the near term.

Upcoming Key Economic Events:

  • US S&P Manufacturing PMI for Oct 2025 – Forecast 52.2, versus 52.2 previous.
  • US ISM Manufacturing Index for Oct 2025 – Forecast 49.2, versus 49.1 previous.
Excellent
Trustpilot
Open a Live accountOpen a Demo account
Loading