EUR/USD: Technical Short Play Identified Amidst Range-Bound Conditions

Current Market Posture and Technical Observations

The EUR/USD pair is currently trading at 1.08724, reflecting a modest 24-hour change of 0.21% (0.00224). The market has been exhibiting a clear sideways trend, with the daily range confined between 1.08388 and 1.09061. This consolidation indicates a period of indecision among market participants. From a technical perspective, the pair has repeatedly approached the resistance zone around 1.0906 and 1.09 without a decisive breakout. This consistent rejection at higher levels, despite repeated attempts, suggests that these resistance points remain formidable. Conversely, support around 1.0839 has held, preventing a deeper decline for now. The structure is clear: we are operating