EURUSD bounced from support near 1.1500 on Monday, but sellers stepped in as the pair reached 1.1554. The move left the market trapped between nearby resistance and short-term support on the 5-minute chart.
EURUSD holds above short-term moving averages
At the start of the North American session, EURUSD moved back above its 100-bar and 200-bar moving averages on the 5-minute chart. That shift gave buyers a better short-term setup. However, the pair still needed to clear the 38.2% retracement and the 50% retracement of Friday’s decline.
Those resistance levels stood between 1.1554 and 1.15714. EURUSD reached the first level, then turned lower. The high for the day matched 1.1554 exactly, which showed sellers were active at that point.
The pullback has stayed limited so far. Therefore, the 100-bar moving average at 1.15362 and the 200-bar moving average at 1.15294 remain in focus. Buyers are trying to defend those levels, while sellers continue to lean against the retracement area above.
EURUSD traders watch the next break
The range remains narrow, but traders are using these levels to judge risk and short-term direction. A move above 1.1554 would strengthen the bullish tone and shift attention to 1.15714. Meanwhile, a drop below the 100-bar and 200-bar moving averages would turn the bias back lower.
For now, EURUSD sits between resistance at the 38.2% retracement and support from the converging moving averages below. The next move is likely to come from a break of one of those levels.
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