EUR/USD Forecast: Technical Pressure Mounts as Bears Target 1.1350 Support

Key Facts

Amid ongoing volatility in foreign exchange markets, the EUR/USD pair is facing mounting technical pressure as bearish momentum dominates price action. According to reports, sellers are currently targeting a break below the key support level of 1.1350, with the pair remaining under technical strain below major resistance levels. This movement continues a bearish trend observed over the past few days.

These technical shifts follow mixed economic data from the Eurozone and the United States. Per market data from July 17, 2026, the Eurozone's annual CPI held steady at 2.8%, matching forecasts. Conversely, the U.S. reported strong housing sector data, with Housing Starts reaching 1.427 million, significantly exceeding the 1.31 million forecast, which has bolstered the dollar's position against major peers.

Traders should closely monitor liquidity and price action around the 1.1350 zone, as a confirmed break below this level could signal further downside. With no major upcoming catalysts listed in the immediate economic calendar for the Eurozone or the U.S., technical indicators are expected to remain the primary driver of price movement.