Technical Analysis:
EUR/USD faced renewed selling pressure Thursday after the ECB’s anticipated 25bps rate cut triggered fresh bearish momentum, pushing the pair lower from its overnight peak of 1.1409 to trade near session lows at 1.1336 in New York. ECB President Lagarde’s emphasis on downside risks from ongoing trade tensions added to bearish sentiment, particularly as EUR/JPY simultaneously weakened towards key support near 161.25. Firmer U.S. Treasury yields and a stronger dollar further compounded downward pressure, positioning EUR/USD near critical short-term support levels late in the session.

From a short-term technical perspective, the daily RSI retreating from overbought conditions signals increasing vulnerability for EUR/USD bulls, highlighting the risk of further corrective declines. Immediate attention turns to support at 1.1330-1.1336; a clear breach below this zone could accelerate bearish momentum toward subsequent targets at 1.1300 and eventually deeper supports around 1.1240-1.1260, where buyers previously emerged during earlier consolidation phases.

Despite immediate bearish pressures, EUR/USD maintains a structurally bullish bias as indicated by longer-term technical indicators—particularly the rising monthly RSI and overall consolidation pattern established following the February rally. Bulls must reclaim the intraday resistance at 1.1400-1.1410 to signal renewed upside momentum and stabilize the short-term outlook. However, traders should remain cautious, as easing bond volatility—reflected in a declining MOVE index—combined with a hawkish-leaning Fed relative to a growth-focused ECB, suggests EUR/USD could face significant headwinds, challenging bullish continuation in the near-term.