EUR/USD, Time frame: 4h, Source: Trading viewEUR/USD, Time frame: 4h, Source: Trading view

EUR/USD continues to trade within a rising channel, with higher lows supporting the recovery from the late-June bottom. While the broader structure remains constructive, recent price action has shifted toward the channel's support.

Bollinger Basis Acting as a Pivot

Price is trading around the Bollinger Band basis (1.1422), which has acted as a short-term equilibrium level during the recent consolidation. The inability to hold above the basis has contributed to the softer short-term tone.

Resistance Remains Near 1.1450

The 1.1450 area continues to act as overhead resistance, aligning with the upper Bollinger Band and recent swing highs. Multiple attempts to push higher have stalled below this level, leaving the pair range-bound within the channel.

Momentum Softens Below Neutral

The RSI has slipped to around 44, moving below the neutral 50 mark and reflecting a moderation in bullish momentum. While not oversold, the indicator suggests the recent recovery has lost some strength.

Support Zone Under Focus

The lower channel boundary and the 1.1390–1.1400 region are now the key support levels to watch. Previous reactions from this area have helped maintain the sequence of higher lows.