EUR/USD

Bearish

Archived analysis from Aug 6, 2026, 8:27 PM

Key insight

1.1538 pivot caps recovery — break needed to flip neutral; failure here risks retest of 1.1380 support

Rejected at 1.1538 downtrend resistance; USD bid persists on US-Iran Strait of Hormuz caution

Main risk

US-Iran deal / Strait of Hormuz reopening

Deal confirmation collapses safe-haven USD demand, could spike EURUSD above 1.1538 fast

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