EUR/USD, Time frame: 1D, Tools: VRVP, Source: TradingviewEUR/USD, Time frame: 1D, Tools: VRVP, Source: Tradingview

EURUSD is trading within a developing ascending channel, with price respecting both the rising support trendline and gradual movement toward higher levels. The structure reflects a steady but controlled attempt to move higher rather than a strong directional trend.

Pullback Into Support Area

Recent price action shows a pullback from the upper portion of the channel, with price now drifting back toward the lower boundary. The decline appears measured rather than aggressive, with no sharp expansion in bearish momentum.

Key Horizontal Support in Focus

The 1.1590–1.1600 region is acting as a key support zone, aligning with both a prior horizontal level and the lower area of the current structure. Price is currently testing this zone, making it an important reference point for near-term direction.

Resistance Zone Overhead

On the upside, the 1.1750–1.1800 region marks a clear resistance area where price previously stalled and reversed. This zone sits within the upper portion of the channel and continues to cap upward attempts.

Volume Profile Highlights High Activity Area

The visible range volume profile shows a concentration of activity around 1.1700–1.1800, indicating a high-volume node where the price previously spent significant time. This may act as a magnet if price rotates higher, while thinner areas below suggest quicker movement if support breaks.

Momentum Indicators Neutralising

The RSI is hovering around the mid-40s, reflecting neutral momentum after previously higher readings. The indicator is neither oversold nor overbought, consistent with the current consolidation phase. Summary

EURUSD remains within an ascending channel, though recent price action has shifted into a controlled pullback toward the 1.1590–1.1600 support zone. Resistance remains firm around 1.1750–1.1800, while volume profile data highlights this region as a key area of prior activity. Momentum indicators have eased back toward neutral levels, suggesting a pause in directional strength as price tests support within the broader structure.