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18.06.202610:01 Forex Analysis & Reviews: EUR/USD Price Analysis and Forecast: The Bearish Technical Outlook Requires Caution Before Opening Additional Long Positions

Relevancia 03:00 2026-06-19 UTC--4

Exchange Rates 18.06.2026 analysis

The EUR/USD pair is attracting buying interest after rebounding from its lowest level since late March, recorded in the 1.1480-1.1475 level during the previous session. The pair's intraday gains are being driven by broad-based U.S. dollar weakness, allowing prices to move higher.

The agreement between the United States and Iran aimed at ending the conflict and restoring navigation through the Strait of Hormuz has strengthened investor confidence and encouraged profit-taking in the dollar following its sharp rally on Wednesday, when it reached new highs not seen since late March.

Exchange Rates 18.06.2026 analysis
In addition, the European Central Bank's hawkish rhetoric is providing support to the single currency and the EUR/USD pair. However, growing expectations that the Federal Reserve may raise interest rates in December could limit further downside in the dollar and slow the pair's advance.

From a technical perspective, spot prices remain well below the 200-period Simple Moving Average (SMA) on the 4-hour chart and continue to reflect a bearish short-term trend. The Moving Average Convergence Divergence (MACD) indicator remains in negative territory, while the Relative Strength Index (RSI) is fluctuating near the 30 level. Taken together, these momentum indicators continue to point to underlying downside pressure, even though EUR/USD is attempting to establish itself above recent lows.

Against this backdrop, any further upside is likely to encounter resistance in the area of the 50-period SMA, the 20-period SMA, and the 50-period EMA, which are clustered in the 1.1565-1.1585 level, before reaching the psychological 1.1600 level. Meanwhile, the 200-period SMA at 1.1637 represents a significant barrier that bulls will need to overcome in order to weaken the current bearish momentum and open the way for a more sustainable recovery.

On the other hand, a move below the 1.1500 level would reinforce bearish pressure on EUR/USD, as momentum would remain tilted to the downside.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Irina Yanina,
Analytical expert of InstaSpot
© 2007-2026
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