Every read JAFX AI made on the EUR/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
10:58 UTC
Downtrend from April high, now ranging at lows · RSI 43 · price 1.15673
Lower highs since April, consolidating 1.1500-1.1590.
EURUSD has trended lower since the April high near 1.1849, carving a chain of lower highs and trading below a falling EMA(50) on D1. The last several weeks have compressed into a tight 1.1500-1.1590 band, with the ECB's first hike since 2023 cushioning but not reversing the softer tone. Price sits mid-range at 1.1567 with RSI hovering in the low-40s, neither stretched nor oversold.
Support: 1.1500, 1.1499, 1.1410
Resistance: 1.1590, 1.1660, 1.1849
What it said to watch
- Daily close above 1.1590 range cap reopens upside toward 1.1660
- Failure to hold the 1.1500 floor confirms a lower-low toward the 1.1410 march low
- FOMC Wed 17 Jun (Warsh debut) is the dominant catalyst that could break this range read
10:58 UTC
Downtrend from April high, now ranging near lows · RSI 41 · price 1.15673
Lower highs since mid-April, basing 1.1500-1.1590.
EUR/USD has been carving lower highs since the mid-April peak at 1.1849, with price trading below both EMA20 and EMA50 on D1. The last several weeks compressed into a tight 1.1500-1.1590 band, the floor defended twice and the 1.1590 cap unbroken, leaving price near the 61.8% retracement of the March-April rally. The ECB's first hike since 2023 cushioned but did not reverse the softer tone heading into Wednesday's FOMC.
Support: 1.1500, 1.1410
Resistance: 1.1590, 1.1660
What it said to watch
- FOMC Wed 17 Jun (Warsh debut) is the dominant catalyst — could materially shift this read
- Daily close below 1.1500 confirms a lower-low and opens 1.1410
- Close above 1.1590 range cap reopens upside toward 1.1660