3 min readEUR/USD continues to trade within a well-established range, holding comfortably above the previous high timeframe resistance zone, which now appears to be acting as support.
The current intraday range we’re monitoring is defined as follows:
- Range Lows: ~1.12800
- Range EQ (Equilibrium): ~1.13500
- Range Highs: ~1.14300
Structurally, this reminds us of the recent consolidation seen in gold—with a clear breakout already behind us, and the market now deciding whether this zone will act as a base for continuation or give way to deeper retracement.
A break below the range lows with sustained downside momentum could lead to a move toward the previous breakout level at 1.12000, or possibly even further down toward the 1.10800 area—a level of prior interest on the higher timeframes.
On the upside, a clean break above the range highs could shift the focus toward the next major high timeframe resistance, sitting around 1.16000.
This range remains central to near-term directional bias, and traders could perhaps find clear opportunity within the boundaries—or on the next breakout.
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