Moving Averages Weigh on the Euro 4/6/2026

EUR/USD Technical Analysis

The EUR/USD pair traded sideways within a narrow range during the previous session, amid a cautious and watchful market atmosphere.

Technical Outlook – 4-Hour Timeframe:

Across intraday price action, the pair is mounting an attempt to claw back a portion of the losses sustained in the previous session, drawing support from a modest improvement in momentum indicators. The Relative Strength Index (RSI) has started to display limited positive signals — a development that could contribute to a temporary corrective bounce.

That said, the broader technical picture remains bearish, with the simple moving averages — particularly the 50-period moving average — continuing to weigh on the price. This dynamic preserves the daily trend bias and caps the prospects of a robust recovery over the current period.

Compounding this picture, the pair’s inability to reclaim trading above the key resistance levels reinforces the probability of sustained selling pressure across the upcoming sessions.

Expected Scenarios:

Bearish (Most Likely) Scenario:

As long as trading remains capped below the pivotal 1.1630 resistance ceiling (previously broken support), the prospects of a resumption of the downtrend will remain firmly on the table — particularly should the price confirm a decisive break beneath 1.1590 and sustain trading below it — with targets set at:

• 1.1575 as the initial objective
• Followed by 1.1545 as the subsequent target

Bullish Scenario:

Conversely, a confirmed hourly candle close above 1.1630 would supply the pair with a constructive impulse, with targets emerging at:

• 1.1665 as the initial objective
• Followed by 1.1700 as the subsequent target

• Risk Disclaimer: Trading CFDs involves risks, and therefore the scenarios outlined above are not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.

S1: 1.1610	R1: 1.1665
S2: 1.1575	R2: 1.1700
S3: 1.1545	R3: 1.1745