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EUR/USD edges higher but remains capped by descending-channel resistance

The euro remains below key moving averages, with traders weighing June FOMC minutes and renewed US-Iran tensions that keep the dollar supported.

Thursday, July 9, 2026 · Written up by our desk · Major Pairs

EUR/USD held near the 1.14 level after reversing earlier losses tied to renewed US-Iran tensions, trading around 1.1427 after an intraday low of 1.1391, according to FXStreet.

The US Dollar Index was around 100.97, down from an intraday high near 101.27, with FXStreet noting that the June FOMC minutes prompted limited immediate dollar reaction, suggesting much of the Fed message is already priced.

FXStreet said officials stayed cautious on inflation, which remains above the Fed's 2% target, while describing labor conditions as balanced. The outlet added that policymakers indicated the interest rate path will depend on incoming data, with some signaling additional tightening could be warranted if inflation proves more persistent.

Technically, FXStreet reported the pair is still trading within a downward parallel channel and beneath key moving averages, keeping the near-term bias bearish. It highlighted resistance near 1.1500, with further barriers at the 100-day and 200-day SMAs near 1.1611 and 1.1649, while near-term support sits around 1.1350, ahead of the channel floor near 1.1305.

Latest closeEUR/USD 1.139 ▼0.1%|Dollar index 101.39 ▼0.1%

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