EUR/USD Technical Analysis: Bearish Momentum Targets 1.14548 and 1.13704
Muhammad Faraz 
EURUSD Price Analysis
The EUR/USD pair continues its downward trajectory as bearish sentiment dominates the market. After peaking near 1.1750, the pair has broken below multiple support zones and is currently trading around 1.1525, showing persistent selling pressure. The highlighted chart depicts two significant downside targets at 1.14548 and 1.13704, suggesting potential continuation of the bearish move in the short to medium term.
Recent Price Action
- The pair topped out near 1.1750 before initiating a sharp decline.
- Successive lower highs and lower lows have been forming, confirming a bearish channel.
- Volume spikes align with bearish candles, indicating strong seller participation.
- Price is currently consolidating slightly below a minor resistance zone but remains well under the downward trendline.
Key Technical Levels
Support Levels
- 1.14548: First major support; aligns with previous consolidation zone.
- 1.13704: Deeper support level; represents a possible target if bearish momentum intensifies.
Resistance Levels
- 1.1550 – 1.1580: Immediate resistance; coincides with broken support now acting as resistance.
- 1.1650 – 1.1700: Secondary resistance zone where sellers may re-enter if price retraces.
Trend Analysis
- Trendline: Downward-sloping trendline firmly intact.
- Volume Profile: Higher volume during sell-offs, confirming trend strength.
- Moving Averages (Implied): Likely positioned above current price, reinforcing bearish structure.
Targets
- First Target: 1.14548
- Price could test this zone within the next few sessions as sellers push toward previous demand levels.
- Second Target: 1.13704
- A break below 1.14548 could open the door for a further drop toward this level, marking deeper downside potential.
Market Outlook
The broader macroeconomic backdrop (ECB vs. Fed policy divergence, US dollar strength, and European economic data weakness) favors continued downside pressure on EUR/USD. Unless a significant bullish catalyst emerges, rallies toward resistance are likely to be sold into.
Conclusion
EUR/USD remains under heavy selling pressure, with clear downside targets at 1.14548 and 1.13704. As long as price action stays below key resistance levels, the bearish momentum is likely to persist into early August.
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