EUR/USD price pulls back to $1.1470 as bullish trend faces short-term correction pressure
EUR/USD retreats to 1.1470 after facing resistance near 1.1600 as momentum indicators fade
The EUR/USD price slipped to 1.1473 against the U.S. dollar on Tuesday after facing stiff resistance near the 1.1600–1.1650 zone, a region where sellers re-emerged strongly. Despite this retreat, the broader bullish trend on the daily chart remains intact, following a confirmed breakout above a long-term descending trendline and successful retests of the 1.1336 and 1.1178 support levels.
Key highlights
- EUR/USD retreats to 1.1473 after rejection near 1.1600–1.1650 resistance zone
- Momentum indicators weaken, with RSI near 41 and MACD showing early bearish crossover
- A break below 1.1450–1.1430 could extend the downside toward 1.1350 and possibly 1.1280
However, signs of short-term exhaustion are becoming evident. The pair recently failed to hold above 1.1555 and registered a change of character (CHoCH) on lower timeframes, indicating early bearish pressure. Technical focus is now shifting to the 1.1450 support, with potential downside extension to 1.1390–1.1350 if this level is breached.
Momentum slows as EUR/USD tests pivotal zone
On the 4-hour chart, EUR/USD is retesting the base of its previous breakout structure near a key rising trendline. The 50-EMA (1.1459) and 100-EMA (1.1495) are providing critical near-term support, but bearish divergence in RSI and a negative MACD crossover suggest fading upward strength. The 4-hour supertrend has also flipped bearish, placing resistance near 1.1566.
EUR/USD price forecast (Source: TradingView)
A failure to reclaim the 1.1507–1.1530 range could confirm a more extended correction. Meanwhile, the ADX/DMI setup reveals rising negative directional momentum, reinforcing the near-term downside bias. Should bears push below 1.1430, the next support cluster lies at 1.1350, with further potential to reach 1.1280 depending on dollar strength this week.
As discussed in our previous EUR/USD updates, the pair had maintained a resilient uptrend after breaking above major structural barriers. But with the dollar regaining footing and technicals flashing caution, the focus now shifts to whether bulls can defend key demand near 1.1450 or risk surrendering control to sellers in the sessions ahead.
