EURUSD Technical Analysis: 1.18 Resistance Holds, Short-Term Consolidation Expected
Over the past three trading days, EURUSD hovered around the 1.17 level, closing yesterday at 1.1705. The pair was pressured by disappointing Eurozone manufacturing data coupled with a strengthening US dollar. The 1.18 resistance remains a strong barrier preventing upward momentum. Rising US Treasury yields have also supported the dollar’s strength, keeping euro under pressure. For average investors, the market sentiment is cautious, and short-term traders should watch key resistance levels closely. Overall, market news indicates a slowdown in Eurozone recovery, so staying updated on EURUSD’s technical and fundamental factors is crucial for adapting trading strategies.


