EURUSD has experienced volatility today, alternating between essential technical levels. During the Asia session, it initially advanced, testing the weekly high at 1.0527 and the January high at 1.05325, reaching a peak of 1.05242 before turning lower.

As the U.S. session commenced, EURUSD fell below the 100-hour moving average at 1.04839 but remained above the 200-hour moving average at 1.04718. A critical support zone exists between 1.04529 and 1.04677, where the price had previously found support on Monday and Tuesday.

For sellers to strengthen their position, they must breach both moving averages. Otherwise, the pair may remain within a defined range, with resistance at 1.0525 to 1.05325 and lower support from 1.04529 to 1.0467.

Declining beneath both moving averages would indicate that sellers have regained control. If the price holds above these levels instead, buyers may attempt another push towards the resistance area. With fluctuating sentiment, short-term positioning will be key.

We have seen price movements largely guided by technical barriers rather than a decisive directional shift. The failure to sustain gains beyond the week’s high points hints at hesitation among buyers, while sellers have not yet demonstrated enough strength to overwhelm support levels. This leaves the market in a state where both sides will need greater conviction to establish momentum.

The 100-hour and 200-hour moving averages now serve as pivotal markers. Any sustained movement beneath them would suggest downward pressure is building, particularly if the nearby support area fails to hold. Continued tests of this range without a break mean consolidation remains in play. If support holds firm, expect attempts to push higher again, but gains should be monitored for rejection near recent tops.

Market participants should be aware of whether price action stays confined within this structure or if a decisive breakout occurs. Short-term positioning should reflect the boundaries currently in place, while any breach will require reassessment of expectations. Without a firm directional push, fluctuations within the broader technical range will likely persist.