EUR/USD: Short Opportunity as Range Resistance Holds Firm

Market Structure and Technical Outlook

The EUR/USD pair is currently trading at 1.0821, demonstrating a relatively sideways trend over recent sessions. We observed a 24-hour change of -0.0029 (-0.27%), indicating a slight bearish bias within this established range. The daily range has been contained between 1.07774 and 1.08645. From a technical perspective, the area around 1.0865 has proven to be a robust resistance level, aligning with previous market turning points. A move towards this zone often sees sellers step in, preventing a sustained breakout higher. My analysis suggests that the market is currently consolidating below significant resistance, implying a potential continuation of the downside pressure or a retest of lower support levels within this range.

Trade Rationale and Setup

Given the current market structure and the clear resistance levels identified, I am initiating a swing short position on EUR/USD. My entry is set at 1.0835, aiming to capitalize on a retest and rejection of the prevailing resistance