**EURUSD Saved by February Trend Line, but 1.1830 is Key**
*By Justin Bennett, [DailyPriceAction.com](https://dailypriceaction.com/)*
The EURUSD, a bellwether pair for the FX market, is currently at a crossroads. After several attempts to break lower in recent sessions, the pair was seemingly rescued by a pivotal trend line actionable since February. However, zooming out reveals that the real test lies ahead at 1.1830—a level that could ultimately determine whether bulls or bears will control the next significant move.
In this analysis, we’ll take a deep dive into the latest technicals behind the EURUSD, examining the importance of the February trend line, how price has reacted close to 1.1830, and what traders should watch for in the days to come.
## Recent Technical Context
The EURUSD saw marked volatility over recent months, with traders dissecting every development in the economic calendars of both the Eurozone and the United States. Sentiment has swung as data points diverged and central banks recalibrated their language. Amid this backdrop, certain technical levels have stood as key lines in the sand.
**Key highlights:**
– The pair exhibited resilience above a February trend line despite multiple tests.
– 1.1830 has emerged as a significant resistance level that capped recent upward moves.
– Price action over the past few sessions has respected both support and resistance zones.
– Technical indicators signal caution as momentum remains fragile in either direction.
## February Trend Line Support
One of the most dominant features on the daily chart is a trend line that originates from February’s swing low. This rising trend line has repeatedly served as a springboard for prices, with buyers stepping in near its vicinity to prevent steeper declines.
**Trend line insights:**
– The trend line was established after the low in February and has acted as dynamic support multiple times, notably in late March and again recently.
– Each test of the trend line has been followed by a bounce, reinforcing its significance.
– Bears have so far failed to sustain a close below this trend line, suggesting robust underlying demand.
The trend line’s importance is amplified by the lack of equally strong nearby support levels. A confirmed dailyclose below the February trend line could open the door to a more extended decline, targeting areas such as 1.1760 and potentially lower.
## 1.1830 Resistance: The Battleground
While the February trend line anchors bulls, the 1.1830 level has acted as a formidable barrier overhead. This resistance has repeatedly rejected advances, with sellers turning up any time the pair attempts to break higher.
**1.1830 resistance in focus:**
– The 1.1830 level has been tested three times in the last three weeks without a decisive break.
– This level aligns with previous swing lows and highs, enhancing its technical relevance.
– Each rejection at 1.1830 has been met with an acceleration to the downside.
For bulls to regain control, a daily close above 1.1830 is necessary. This would likely open up additional upside toward 1.1900 and beyond. Until then, rallies up to this level may be met with skepticism and selling pressure.
## The Price Action Playbook: What to Expect
Given the current technical structure, there are two primary scenarios that traders should monitor closely:
### Scenario 1: A Break Below the February Trend Line
If sellers manage to force a decisive close below the February trend line, it would signal a potential shift in market sentiment. Such a move would invalidate the recent bullish defense and clear the way for lower support zones to be tested.
**Implications of a break lower:**
– Opens up the immediate downside toward 1.1760, the next key horizontal support.
– Could usher in a broader correction that targets the 1.1700 region.
– Momentum indicators like RSI and MACD would likely begin showing
Read more on GBP/USD trading.