21:02 UTC
Multi-month downtrend, recovering off lows · RSI 56 · price 1.14703
Basing above June low after LH/LL sequence.
EURUSD ran a multi-month downtrend from the mid-March peak near 1.1850 into the June swing low at 1.1324, carving a lower-high, lower-low chain. The last two weeks show a base building 1.1377–1.1470, with price reclaiming the EMA20 and pushing toward the 1.1490 range top on the back of hawkish-ECB repricing and softer US PPI. The move is a corrective bounce so far; EMA50 still caps just overhead.
Support: 1.1405, 1.1377, 1.1324
Resistance: 1.1490, 1.1520
What it said to watch
- Daily close above 1.1490 range top opens the path to 1.1520 resistance
- Failure to hold 1.1405 strong support reopens the 1.1324 june low
- Eurozone final HICP Fri 09:00 UTC could shift the recovery read