EUR/USD Rebounds Sharply Toward Key Retracement After Intraday Selloff

EUR/USD experienced significant intraday volatility during Thursday's session, initially plunging sharply before staging an impressive rebound during the North American trading hours. The pair broke below the critical swing area between 1.1471 and 1.1482, a zone that had previously served as resistance capping rallies since mid-June, before buyers stepped in to drive prices back toward this key retracement target. The initial selloff tested the resolve of bullish positions, but the subsequent recovery suggests underlying demand remains robust at lower levels. The 1.1471–1.1482 zone now serves as a pivotal area: a sustained break above it would reinforce the bullish case and potentially open the door toward higher resistance levels, while failure to reclaim this range could invite renewed selling pressure. Traders should monitor whether the pair can close above this swing area on a daily basis, as that would confirm the bounce as more than a short-term corrective move. Volume patterns during the recovery phase will also be critical in gauging conviction behind the rebound.