EUR/USD Price Forecast & Predictions

EUR/USD starts the week near 1.1470 after breaking below the 1.1496 support zone. What catches my attention is that price remains below the descending trendline and the moving average near 1.1562, while RSI has slipped to around 35. The break leaves 1.1355 as the next major downside target. A rebound may retest 1.1496, but unless buyers reclaim 1.1575, I expect sellers to retain control.

The macro backdrop still favors the dollar. The Fed raised rates by 25 basis points to 3.75%-4.00% last week and signaled further tightening, helping the dollar gain more than 1% over the week. Markets now price roughly a 55% chance of another October hike. The ECB also raised its deposit rate to 2.50%, which should limit euro losses, but the stronger U.S. rate impulse keeps EUR/USD under pressure.

A daily close back above 1.1496 would ease immediate downside pressure, but I would need 1.1575 and the descending trendline to break before turning neutral. A close above 1.1652 would invalidate the bearish short-term structure and reopen 1.1712. On the downside, a daily break below 1.1355 would expose 1.1280 and 1.1210.