EUR/USD is holding a narrow 1.1400 to 1.1450 range as the pair extends cautious trade, according to Continuum Economics. Intraday momentum points lower, but rising daily readings should cap any slide, leaving the euro boxed between congestion support and resistance.
EUR/USD is trading within a tight 1.1400 to 1.1450 band, with little change on the session as the pair extends cautious trade. Intraday studies are under pressure, opening room for a drift lower from congestion resistance at 1.1450.
Rising daily readings should limit the scope for further weakness, keeping the pair in renewed consolidation above congestion support at 1.1400.
Resistance holds at 1.1450 and extends to the 1.1473 weekly high of 2 July. A close above that level would help improve sentiment and extend late-June gains toward congestion around 1.1500. However, mixed weekly charts should limit any further gains in consolidation beneath 1.1550.
Below 1.1400, the next marked levels are the 38.2% retracement of the 2025 to 2026 rally at 1.1355 and the 24 June year-to-date low at 1.1325, with congestion beneath at 1.1300.
Source: Continuum Economics (snippet-based)
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