retracement
Last week I highlighted the 1.1340 area as a key technical support zone, representing the 38.2% Fibonacci retracement of the broader move from the February 2025 low to the January 2026 high. That level held, and EUR/USD rallied to 1.1473 following the weaker-than-expected U.S. employment report before stalling at the declining 20-day moving average.
Last week I highlighted the 1.1340 area as a key technical support zone, representing the 38.2% Fibonacci retracement of the broader move from the February 2025 low to the January 2026 high. That level held, and EUR/USD rallied to 1.1473 following the weaker-than-expected U.S. employment report before stalling at the declining 20-day moving average.
EUR/USD has traded down to the 38.2% Fibonacci retracement of the move from the February 2025 low at 1.0141 to the January 2026 multi-year high at 1.2081.
In the sphere of financial trading, two fundamental concepts that are integral for traders and investors are ‘Support’ and ‘Resistance’. These principles form the foundation of technical analysis, guiding traders in predicting future price movements and making well-informed investment decisions.