On a shorter-term basis, this pair remains an option for USD-strength scenarios, with a similar albeit mirror image backdrop of the US Dollar . After a visit to resistance in the 1965-2000 zone, sellers were on the prowl this week to push in a fresh two-month-low in the pair. Prices crossed a big spot of prior support around the 1.1850 level, and after the Friday NFP release, prices pushed back above this spot; yet remain below the prior lower-high from around 1.1885.
A hold below the 1.1885-1.1900 zone can keep the door open for scenarios in the pair, targeting a re-test of the 2021 lows which, at this point, can be classified as range support in the EUR/USD , at least until it’s broken.
EUR/USD FOUR-HOUR PRICE CHART
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