EUR/USD Holds Amid Strait of Hormuz Projectile IncidentEUR/USDOANDA:EURUSDNouzTraderEUR/USD continued its horizontal consolidation phase (sideways contraction) throughout Tuesday's Asian trading session. Despite its sideways movement, the euro managed to demonstrate structural resilience, holding comfortably above the psychological level of 1.1400 and remaining within striking distance of the two-week high touched last week. Current market movements reflect a fierce duel between rising geopolitical risk premiums and the collapse of US bond yields post-NFP. --------------------------------------------------------------------------------------------------------- ✅ Geopolitics: Ceasefire Critical After Mysterious Projectile Attack The 60-day peace agreement initiated by Washington is now on the verge of complete collapse following a new military incident in the global energy corridor: - 🔸Oil Tanker Attack: An international maritime agency reported that a commercial oil tanker was hit by an unknown projectile while transiting the Strait of Hormuz. - 🔸Tariff Dispute Turns Kinetic: This incident occurred just after the US strongly rejected Tehran's unilateral plan to impose new maritime service fees on foreign vessels. --------------------------------------------------------------------------------------------------------- ✅ Technical Analysis 4-Hour Chart (H4) Technically, on the 4-hour chart (H4), EUR/USD is trapped in a tight price compression phase, testing the channel boundaries to confirm a trend reversal point: - 🔸Bottoming Out Confirmation: The market requires strong follow-through buying (sustained breakout) before confirming that EUR/USD has officially formed a long-term trend floor (bottoming out) in the 1.1325 area (June's multi-month low). - 🔸Upper Resistance Zone: The nearest technical obstacle is located at last week's swing high area of 1.1470–1.1475. A clear break above this level is needed to open a rally corridor towards the next crucial target at 1.1525. - 🔸Conversely, failure to hold above 1.1380 will send the Euro falling back to test the 1.1325 trough.