The EURUSD remains under pressure, holding below the 200-hour moving average

The EURUSD remains under pressure, holding below the 200-hour moving average, which keeps sellers firmly in control of the market.

During the U.S. session, the pair attempted a modest recovery but failed to break above the 200-hour MA at 1.1623, reinforcing that level as a key short-term resistance. Earlier, EURUSD had already lost ground after failing to sustain gains above the 100-hour and 100-day moving averages, clustered around 1.1652–1.1657. The subsequent drop pushed prices below the 200-hour average — establishing it as a clear risk marker for intraday traders.

After setting a new session low, buyers briefly emerged near the upper edge of the swing support zone between 1.1581 and 1.1595, triggering a technical rebound. However, that bounce stalled exactly at the 200-hour MA, where sellers once again stepped in to defend the level, driving the pair lower into the session close.

From a technical perspective, 1.1623 now stands as a key resistance pivot. As long as price action remains below this threshold, bearish momentum is likely to persist. A decisive move below 1.1581 would open the door toward a potential retest of the double-bottom support near 1.1541, formed over the past two weeks.

Conversely, a sustained break back above the 200-hour MA would neutralize the short-term bearish bias and signal that downside pressure is easing.

For traders, the focus remains on control and risk definition — understanding who has the upper hand and why. As long as the market respects the technical boundaries, the battle lines are clear: resistance at 1.1623, and support at 1.1581–1.1541.