In line with the inverted head and shoulders formation seen on the DXY from its 2025 lows, EURUSD has completed a breakout of its own head and shoulders pattern, reaching the 1.1070 target.
With the 4H RSI rebounding from oversold territory, a bullish bounce for EURUSD appears likely toward the 1.1140 level.
A clean hold above this resistance could extend gains to 1.1270, 1.1380, 1.1430, and eventually to the 2025 high at 1.1570.
If dollar strength resumes and EURUSD falls back below 1.1070, downside levels to watch include 1.1000, 1.0920, and 1.0760.
Written by Razan Hilal, CMT
With the 4H RSI rebounding from oversold territory, a bullish bounce for EURUSD appears likely toward the 1.1140 level.
A clean hold above this resistance could extend gains to 1.1270, 1.1380, 1.1430, and eventually to the 2025 high at 1.1570.
If dollar strength resumes and EURUSD falls back below 1.1070, downside levels to watch include 1.1000, 1.0920, and 1.0760.
Written by Razan Hilal, CMT
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.