09:30 UTC
Uptrend, momentum cooling · RSI 47 · price 1.16345
Higher highs since March, multi-week consolidation under 1.1800.
Quarter-long uptrend off the February low at 1.1410, with price holding above the EMA(50) on D1 through the April–May advance. The last three weeks have stalled into consolidation between 1.1585 and 1.1790, with repeated rejection at the swing high and buyers stepping in near 1.1600. Euro area CPI ticking up to 3.2% y/y has kept the ECB-hawkish narrative alive without driving a fresh breakout.
Support: 1.1600, 1.1510, 1.1410
Resistance: 1.1790, 1.1850, 1.1996
What it said to watch
- Daily close above 1.1790 swing high reopens the path toward the 1.1996 feb high
- Loss of 1.1600 support exposes the 1.1510 april low and threatens the higher-low chain
- June FOMC and ECB meetings in coming weeks could materially shift this read