21:00 UTC
Uptrend pausing, multi-week range forming · RSI 44 · price 1.16184
Higher highs into 1.1900 capped, holding above 1.1600 floor.
Quarter-long uptrend from the January 1.1410 base topped twice near 1.1890, forming a double top through April. Price has since rolled back to the 1.1600 range floor, trading below both EMA20 and EMA50 for the first time in months. Last week's basing action around 1.1600 has held, but momentum has cooled with RSI mid-40s and weekly ranges compressing.
Support: 1.1600, 1.1510, 1.1410
Resistance: 1.1790, 1.1890
What it said to watch
- Daily close below 1.1600 confirms breakdown of the range floor and opens 1.1510 swing low
- Reclaim of 1.1790 range mid would neutralise the rollover from the prior high
- Fed commentary (Musalem dropping easing bias) could materially shift this read