EUR/USD has fallen in recent days following an FOMC meeting that came across as more hawkish than expected. This has sent the pair back to an FX rate not seen since July and now leaves it vulnerable to further declines.
EUR/USD is currently sitting on support around $1.146. The area now serving as support formed in June and turned into resistance in July. That makes this region important. Once EUR/USD rose above it in July, it rallied to around $1.16 and eventually moved to highs near $1.17.
Should the currency pair fall below support at $1.146, it could ultimately lead to a drop back towards the June and July lows near $1.135. A break of support at that level could then open the door to a further decline towards $1.128.
If support holds at $1.146, EUR/USD could rebound towards $1.16. The issue is that the pair now faces considerable overhead resistance, with the 10-day exponential moving average and the 50-day simple moving average sitting just above it at around $1.15. That means any advance may first stall at those levels.
For now, EUR/USD is in an important spot, and whichever way it moves from here is likely to lead to a bigger move.
EUR/USD daily, June 2026 – present
