EUR/USD Price Forecast: Sellers Maintain Dominance, Focus on 1.1450 Support

The euro traded in a tight range against the dollar on Monday, with spot prices hovering near 1.14895, consolidating below the psychological 1.1500 level. Last week's notable losses kept sellers in control of market sentiment, with prices approaching the seven-week low zone.

**Persistent Bearish Pressure, Key Support Under Test**

From a technical structure perspective, the pair has recently formed lower highs and lower lows, indicating that sellers remain in command. The 1.1450 level serves as the current key support area; a break below this level could trigger a fresh wave of selling. Market signals indicate that further support lies around the mid-1.1400s, the site of the previous seven-week low. A decisive break beneath this region could open the downside toward 1.1380 and even 1.1340 levels.

**Dense Resistance Above Limits Rebound Potential**

To reverse the downtrend, bulls must first overcome resistance in the 1.1500-1.1530 zone. Prior to that, the 1.1450-1.1480 range has been viewed by market participants as short-term resistance, and price action at this level will dictate near-term direction. According to technical analysts, only a clear move above 1.1500 would alleviate current downward pressure and pave the way for a rebound toward the 1.1580-1.1600 area. However, rebound momentum remains weak for now.

**Cautious Market Sentiment Awaiting Directional Breakout**

Overall, the market has transitioned from a one-way decline into a key reaction zone. Although short-term selling pressure has eased somewhat, the bearish structure remains intact. Traders are closely monitoring the battle between support at 1.1450 and resistance at 1.1500, as a decisive break on either side could trigger a trend-defining move.