EUR/USD Faces Technical Pressure with 1.1175 Target Despite Brief Recovery

Key Facts

Following weeks of volatility in the currency markets, the Euro continues to face persistent pressure against the U.S. Dollar despite recent recovery attempts. According to reports, the intraday bias for EUR/USD has shifted to neutral during the current bounce, but the technical outlook remains bearish as long as the pair stays below the 1.1621 resistance level. Projections suggest that a break below the 1.1408 support could resume the broader decline initiated from the 1.2081 peak.

This technical weakness in the Euro comes as economic data reveals diverging performance across the Atlantic, with German Economic Sentiment hitting 10.5 points in June, significantly beating negative forecasts per market data. Conversely, U.S. data showed a 15.4% contraction in housing starts for June, adding complexity to the Dollar's trajectory against other major peers such as the British Pound and Japanese Yen.

Looking ahead, traders are focusing on the long-term technical target of 1.1175 should the bearish momentum persist. On the economic calendar, the market is awaiting the Eurozone Consumer Price Index (CPI) release on June 17, 2026, which will be a critical catalyst for the European Central Bank's policy direction and its subsequent impact on the pair's movement.

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