EUR/USD Uptrend Stalls at 1.1200 Resistance, Pullback Develops

EUR/USD has retreated 0.3% from intraday highs to 1.1140 as the recent uptrend encounters strong resistance at the 1.1200 psychological level. The pair's impressive 2.5% rally over the past two weeks appears overextended, prompting profit-taking ahead of key risk events. US dollar index has stabilized around 101.60, finding support as traders reassess aggressive Fed easing expectations. Technical indicators suggest the pullback could extend toward 1.1100 initial support, where the 20-day moving average converges with horizontal support. A break below would target 1.1050, while bulls need to clear 1.1200 convincingly to resume the uptrend toward 1.1275. The correction appears healthy within the broader bullish structure, offering better entry levels for euro bulls. Key catalysts include Friday's US PCE data and next week's ECB meeting minutes, which could provide fresh directional momentum.