21:00 UTC
Downtrend, base forming · RSI 44 · price 1.16324
Lower-highs since 1.17875 peak, basing above 1.1576.
Price has rolled over from the 1.17875 swing high in early May, carving a sequence of lower-highs into the 1.1576 area where buyers stepped in twice to form a double bottom base. The recovery has stalled below 1.16484 session high with price now consolidating in a tight 1.1610-1.1648 band, both EMAs sloping down overhead. Fed hawkish commentary from Kashkari and ECB hike chatter from Schnabel are pulling the pair both ways, keeping ATR compressed.
Support: 1.1602, 1.15823, 1.1576
Resistance: 1.16484, 1.16619, 1.17132
What it said to watch
- H4 close above 1.16619 prior high would break the lower-high sequence
- Failure to hold 1.15823 range low confirms continuation of the downtrend
- BoJ/Fed speakers and Aussie CPI in Asia session could shift USD tone
- Reclaim of the 1.17132 ema50 zone needed to neutralise the bearish structure