EURUSD is unfolding a corrective zigzag structure from the April 17, 2026 high. First, wave A ended at 1.1655, establishing the initial leg of the decline.
Euro weakens below 1.1650 as Iran uncertainty supports US Dollar
DXY breaks above $98.80 red MA with RSI climbing past 52 — Fibonacci resistance at $99.33–$99.66 now the critical zone for dollar bulls to clear.+
Euro: Bond sell-off weighs against US Dollar – ING
Looking at the 4-hour chart, the pair traded below a rising channel with support at 1.1720. The bears pushed the pair below 1.1620.
Highs for the EUR/USD last week occurred on Monday when the 1.17890 vicinity was traversed, but as the week moved on negative momentum overtook the currency pair, and it went into this weekend near lows around the 1.16250 ratio.
The Euro weakened against the US Dollar on Friday as investors continued rotating back into the greenback amid renewed geopolitical uncertainty and shifting expectations for US interest rates. The Euro to Dollar exchange rate (EUR/USD) fell to 1.1622 (-0.34%), extending this month's retreat after the pair briefly traded near 1.18 earlier.
EUR/USD is under renewed pressure after failing once again at major resistance, with a weekly reversal of more than 1.4% now breaking below key moving averages. The reversal shifts the near-term focus back to the downside, with price now approaching a key pivot zone near the 1.16-handle.
EUR/USD remains under heavy pressure after breaking below the May opening range, with the pair extending a five-day selloff towards major technical support near the 1.16-handle. The decline reflects accelerating downside momentum following last month's rejection at key resistance, bringing the focus to a critical zone that could determine whether the move stabilizes or extends into a broader breakdown.
The Euro managed to break above the resistance level of the triangle formation to meet the first target at 1.8000. Resistance at 1.1800-35 caused a drop while supports at 1.1600 could create a trading zone.
Yesterday saw a number of markets drop sharply and we have seen some good downside follow-through so far into today's early European session. Even the mighty Nasdaq 100 futures took a hit, after a relatively narrow tech-led rally pushed the benchmark to fresh record highs.
EUR/USD Price forecast: Hits lows at 1.1620 on risk aversion, high Oil prices