EUR/USD: Two-Month Lows, a Fragile Bounce, and a Macro Gauntlet Ahead
EUR/USD Price Map: From 1.1800 Faded to 1.1540 Printed
EUR/USD shed altitude from mid-September peaks above 1.1800 and printed a two-month trough near 1.1540 before clawing back to roughly 1.1620 into the weekend. That sequence tells you positioning was leaning short into U.S. policy risk and tariff headlines, then partially unwound as haven flows into the dollar ebbed intraday. Price is operating inside a tight, tradable corridor that has repeatedly mattered for intraday desks: 1.1571 on the downside has acted as a speculative pivot, while the 1.1710 neighborhood caps rebounds when U.S. yields stabilize. Immediate friction stacked at 1.1630, 1.1690, and 1.1725 has contained every bounce since Wednesday; a daily close above 1.1700 is the first sign the bulls are doing more than just covering.
