Article details
The intraday bias for the EUR/USD pair remains neutral as price action continues to consolidate below the key resistance level of 1.1710. Although a deeper short-term pullback cannot be ruled out, downside risks are expected to be limited by the critical support level at 1.1565, which could serve as a springboard for the next leg higher. From a technical perspective, a decisive break above 1.1710 would clear the path toward the 61.8% Fibonacci retracement level of the 1.2081 to 1.1323 decline, located at 1.1791. A sustained move above this Fibonacci target could open the door for a retest of higher resistance zones and confirm a broader bullish momentum. Traders are closely watching these boundary levels to gauge the next directional move. A failure to hold above 1.1565 would weaken the bullish thesis and suggest prolonged range-bound trading, while a push past 1.1710 would reaffirm the prevailing uptrend.
