The Technical Outlook for EUR/USD Prices Amid Geopolitical Tensions and Federal Reserve Hawkishness.. Where Are Prices Heading?

Technically, the pair is currently approaching a significant support zone around 1.1590–1.1580, an area that could determine the pair’s next directional move. A break below this zone and a four-hour close beneath it could support a further bearish extension toward deeper levels, especially after a corrective pattern failed to break above the key Fibonacci 0.618 resistance level. In addition, short-term moving averages have started turning negative, increasing the probability of continued selling pressure as long as trading remains below 1.1635.

On the other hand, a temporary technical rebound cannot be ruled out if the pair manages to stabilize above the current support area, particularly as momentum indicators approach oversold territory. However, any upside movement is likely to remain limited unless price achieves a clear breakout above 1.1660 and holds above it, as only then could the short-term technical outlook shift positively and open the way toward 1.1685 followed by 1.1700. Until then, the broader technical outlook remains bearish, with a stronger bias toward continued gradual declines.

Support Levels: 1.1590 – 1.1570 – 1.1545

Resistance Levels: 1.1635 – 1.1660 – 1.1685