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The EURUSD is pushing to a new session high following weaker-than-expected data from the University of Michigan. Sentiment dropped to a fresh record low at 47.6 (vs 52.0 expected), while 1-year inflation expectations jumped sharply to 4.8% from 3.8%. Ongoing tensions tied to the Iran conflict are clearly weighing on consumer confidence and shaping the inflation outlook.From a technical perspective, the move higher is now testing an important zone. On the 4-hour chart, price is extending into a swing area between 1.1726 and 1.1741. Adding to that importance, the 50% midpoint of the 2026 trading range comes in at 1.17443, creating a key confluence area.If buyers can push and hold above that zone, the next upside targets come into focus between 1.1765 and 1.1778—another swing area that could act as the next ceiling.On the downside, today’s low briefly dipped below the 100-day moving average at 1.1688, but importantly held above the 200-day moving average at 1.1671. Those moving averages remain key barometers for bias. Holding above and rotating higher keeps buyers more in control and tilts the bias to the upside.Key levels to watch:Upside targets: 1.1726–1.1741 → 1.17443 (50% midpoint) → 1.1765–1.1778
Support/risk: 100-day MA at 1.1688, then 200-day MA at 1.1671
Bottom line:
Momentum has shifted back to the upside on weaker sentiment data. Staying above the 100/200-day MAs keeps buyers in control, with a break above 1.1744 opening the door for further gains.
This article was written by Greg Michalowski at investinglive.com.
đź’ˇ DMK Insight
The EURUSD’s rise to a new session high signals shifting sentiment amid economic uncertainty. Weaker consumer sentiment data from the University of Michigan, dropping to 47.6, indicates growing concerns among consumers, which could lead to reduced spending and slower economic growth. The spike in 1-year inflation expectations to 4.8% from 3.8% suggests that inflationary pressures are still a significant concern, potentially influencing the ECB’s monetary policy decisions. Traders should watch how these factors play into the broader market context, particularly with ongoing geopolitical tensions, like the Iran conflict, which could further impact market stability. For those trading EURUSD, keep an eye on key resistance levels around 1.10 and support near 1.08. If the pair breaks above 1.10, it could signal a stronger bullish trend, while a failure to hold above 1.08 might prompt a bearish reversal. Watch for any shifts in market sentiment or economic indicators that could influence these levels in the coming days.
đź“® Takeaway
Monitor EURUSD closely; a break above 1.10 could indicate a bullish trend, while support at 1.08 is critical for potential reversals.
