EURUSD broke the 1.1410 support level and is targeting 1.1065

Strong US PMI indices are supporting the dollar, while the eurozone economy continues to lose momentum. The main scenario suggests a test of the 1.1410 resistance level, followed by a decline to 1.1065. Find out more in our analysis for 24 June 2026.

EURUSD forecast: key takeaways

• Business activity in the eurozone remains weak despite improved services sector indicators
• Strong US PMI readings bolstered the dollar and increased pressure on the EURUSD rate
• EURUSD broke below the 1.1410 support level
• EURUSD forecast for 24 June 2026: 1.1065

Fundamental analysis

EURUSD fundamental analysis for 24 June 2026 shows that the pair remains under pressure, trading around 1.1380. Yesterday’s eurozone PMI data was mixed, with services PMI up from 47.7 to 48.9, exceeding the forecast, and the composite index rising to 49.5. However, both indicators remained below the 50 level, indicating continued contraction in business activity. The manufacturing PMI declined from 51.6 to 51.3, coming in below expectations.

US data looked stronger, with the services PMI rising to 51.3, the manufacturing PMI up to 55.7, and the composite reading climbing to 52.2. The data confirmed continued growth in the US economy and fuelled expectations of further Federal Reserve tightening, which supported the dollar.

Today, the market will focus on US housing market data and the current account balance. A decline in building permits and a wider current account deficit are expected, which may temporarily limit further dollar strength. However, the projected increase in new home sales may support the US currency. The EURUSD forecast for 24 June 2026 remains negative, while weak US data may only trigger a short-term recovery.

Technical outlook

EURUSD technical analysis for 24 June shows that the pair is trading in a descending channel on the daily chart and has broken the key support level at 1.1410. MACD is in negative territory, which is increasing pressure on the price. However, the Stochastic Oscillator is in the oversold area, so before the decline continues, the pair may test the 1.1410 level, which is now acting as resistance.

The main EURUSD forecast for today suggests a test of the 1.1410 level, followed by a rebound downwards and a decline in the EURUSD rate to 1.1065.

An alternative forecast for EURUSD should be considered if the pair consolidates above the 1.1410 resistance level. Under this scenario, the EURUSD rate may rise to 1.1500.

EURUSD overview

• Asset: EURUSD
• Timeframe: D1 (Short-term)
• Trend: downward
• Key resistance levels: 1.1410 and 1.1500
• Key support levels: 1.1065

EURUSD trading scenarios for today

Main scenario (Sell Limit)

A test of the 1.1410 resistance level, followed by a downward rebound, would strengthen bearish sentiment in the EURUSD pair. In this case, quotes may continue to decline towards the channel’s lower boundary near 1.1065.

• Take Profit: 1.1065
• Stop Loss: 1.1450

Alternative scenario (Buy Stop)

Consolidation above the 1.1410 resistance level may trigger short-term growth towards 1.1500.

• Take Profit: 1.1500
• Stop Loss: 1.1395

Risk factors

The risk to the EURUSD downside scenario will be weak US data, which could weaken the dollar and support the euro. Consolidation above 1.1410 may lead to a short-term rise towards 1.1500, although the overall downward scenario will remain.

Summary

The EURUSD pair continues to trade in a descending channel amid weak eurozone business activity and stronger US economic readings. Yesterday’s breakout below the 1.1410 support level strengthened bearish sentiment in the pair.

Open Account

Editors’ picks

EURUSD forecast 2026–2027: technical analysis, price levels & predictions

The ECB holds rates at 2.15% while the Fed stays at 3.75% — and that divergence is the central driver of EURUSD in 2026. The pair is range-bound between 1.1400 and 1.1915, with Deutsche Bank targeting 1.2500 and Morgan Stanley calling for 1.3000 by year-end. We analyse the technicals, break down the macro factors, and outline three trading scenarios with specific entry levels.

Gold (XAUUSD) forecast 2026: predictions based on fundamental and technical analysis

Where is gold headed after pulling back from the all-time high of 5,597 USD? XAUUSD is consolidating near 4,518 USD between key levels 4,220 USD and 4,855 USD, with major banks targeting 5,243–6,200 USD by year-end. Read our comprehensive gold forecast: technical analysis across three timeframes, trading scenarios with specific entry levels, Fed policy and central bank demand outlook, and institutional predictions for 2026 and beyond.