EUR/USD Price Analysis: Corrective pullback prints falling wedge below 1.1900

EUR/USD bounces off early April lows, refreshes intraday high of late.
RSI recovery from oversold area backs bullish chart pattern’s confirmation.
Previous support line, 200-HMA adds to the upside filters.

Anil Panchal FXStreet

EUR/USD extends late Friday’s recovery towards 1.1900, up 0.10% around 1.1875, during Monday Asian session. In doing so, the currency major portrays a bullish chart pattern, falling wedge, near the lowest levels since April 08.

Given the RSI’s U-turn from oversold territory gaining support from the strong Momentum line, EUR/USD may extend the corrective pullback towards the 1.1900 threshold. However, the stated formation’s resistance line near 1.1885 becomes an immediate hurdle to cross.

Although falling wedge breakout gains momentum near the multi-day low, if broken, a descending resistance line from June 11 near 1.1960 could probe the bulls holding the theoretical target over the 1.2000 psychological magnet. It’s worth noting that the EUR/USD buyers will remain cautious unless witnessing a clear break of the 200-HMA level around 1.2085.

Alternatively, the recent low near 1.1850 and the stated pattern’s support line close to 1.1825 could test the pair sellers during the fresh downside.

In a case where EUR/USD bears keep the reins below 1.1825, the 1.1800 round figure and the yearly bottom near 1.1705 will be on their radars.

EUR/USD hourly chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	1.1874
Today Daily Change	0.0010
Today Daily Change %	0.08%
Today daily open	1.1864

Trends
Daily SMA20	1.2142
Daily SMA50	1.2097
Daily SMA100	1.2036
Daily SMA200	1.1995

Levels
Previous Daily High	1.1925
Previous Daily Low	1.1847
Previous Weekly High	1.2147
Previous Weekly Low	1.1847
Previous Monthly High	1.2266
Previous Monthly Low	1.1986
Daily Fibonacci 38.2%	1.1877
Daily Fibonacci 61.8%	1.1895
Daily Pivot Point S1	1.1832
Daily Pivot Point S2	1.1801
Daily Pivot Point S3	1.1755
Daily Pivot Point R1	1.191
Daily Pivot Point R2	1.1957
Daily Pivot Point R3	1.1988

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

GBP/USD bounces off one-week low amid Iran diplomacy hopes, ahead of UK CPI

The GBP/USD pair edges higher during the Asian session, snapping a four-day losing streak to the 1.3360 area, or a one-week low, touched the previous day. Spot prices, however, lack follow-through buying and trade below the 1.3400 mark, warranting caution before confirming that the recent pullback from an over two-month high has run its course.

EUR/USD holds gains above 1.1400 on hawkish ECB expectations despite US-Iran tensions

The EUR/USD pair trades with mild gains around 1.1405 during the early Asian session on Wednesday. A hawkish tone from the European Central Bank provides some support to the Euro against the US Dollar. Traders await the upcoming ECB interest rate decision on Thursday.

Gold: Strong recovery might face roadblock as oil price extends gains

Gold price extends its winning streak for the third trading day on Wednesday, trading 1.5% higher to near $4,140 during the Asian session. The precious metal recovered strongly in the past few trading days from its three-week low of $3,959.80 as traders scaled back Federal Reserve’s interest rate hike expectations for the monetary policy meeting next week.

Bitcoin holds firm as ONDO and GRAM lead rally

The broader cryptocurrency market is witnessing an easing of bearish momentum, with Bitcoin holding above $66,000 on Wednesday. Altcoins including Ondo and Gram, formerly known as Toncoin, are leading gains over the last 24 hours, driven by new features. Bitcoin holds above $66,000 on Wednesday, following a 2% surge the previous day.

UK CPI set to show receding inflation in June as GBP/USD fails at May highs

The UK Office for National Statistics will release the June Consumer Price Index figures on Wednesday at 06:00 GMT, a print that will matter for markets. Consensus expectations point to inflation pressures still above the Bank of England’s target, although losing further momentum.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.