EUR/USD stalls at 1.13875 resistance as daily downtrend holds

EUR/USD is pressing directly into a resistance level that has already rejected price once this week, and the daily downtrend has not surrendered its claim on the tape.

The pair is fractionally higher on the session, trading inside a tight 1.13803 to 1.13897 range after a week that saw the pair shed ground broadly. No fresh macro driver has emerged to shift the structural picture, leaving technicals to set the agenda.

For a trend-following desk, the dominant read is still bearish. The daily trend remains down, EMA50 at 1.14258 and EMA200 at 1.15644 both sit well above current price, reinforcing a downward-sloping structure. EMA20 at 1.13847 is the nearby pivot; price is trading just above it but has not extended with conviction. RSI sits neutral and volatility is calm, arguing against a vol-driven breakout in either direction. Trend alignment is mixed across timeframes, with shorter intervals yet to confirm a resumption lower. The 1.13875 resistance node has been tested repeatedly, and the prior-week breakdown of 1.14799 and 1.14386 left a trail of broken support now serving as overhead supply.

We lean short on rallies into 1.13875. A confirmed 4h close above that level forces a stand-down and reopens the door toward 1.14258. To the downside, 1.13285 is the first structural target if sellers regain traction.