EUR/USD Struggles Below 1.1500 as Buyers Face Resistance
The pair reached a high of 1.1482 on the 4-hour chart before starting a downside correction, with a move toward the 50% Fibonacci retracement level of the rally from the 1.1376 swing low.
EURUSD
EUR/USD is trading below the 1.1500 round number, encountering resistance after hitting 1.1482 on the 4-hour chart.
The pair has begun a corrective decline, targeting the 50% Fibonacci retracement of the upward move from the 1.1376 low to the 1.1482 high. The retracement level is a key support area for bulls looking to maintain upward momentum.
A break above 1.1500 would signal renewed buying interest, while failure to hold the retracement could open the door to a deeper pullback.
Source: FXStreet Forex News