Technical Analysis: EUR/USDEuro vs. US DollarFX:EURUSDEvarMayiFollowing the release of the CPI data on Wednesday, the Euro surged strongly to the upside; however, it quickly reversed and fell back with equal force. Currently, the price is trading around the 1.1540 level. 1. Key Level (Pivot Line): Pivot Point: 1.1545 2. Bearish Scenario: As long as the price trades below the Pivot Line (1.1545), the momentum remains bearish towards Support 1 (1.1518). Breaking below Support 1 (1.1518) will extend the move toward Support 2 (1.1505). Note: The price is expected to trade between 1.1518 and 1.1505. A breakdown below 1.1505 will drive further downward momentum, whereas holding above 1.1518 could trigger a short-term bullish correction. 3. Bullish Scenario: If the price manages to break and close a candle above the Pivot Line (1.1545) for any reason, the direction will shift to bullish, targeting 1.1560 and subsequently 1.1575.