EUR/USD: Can Sellers Defend the 1.1520 Supply Zone?Euro vs. US DollarFX:EURUSDStructure_ViewEUR/USD has returned to a major supply area after a sharp recovery from the late-July lows. The rebound was strong enough to break above the intermediate decision zone, but buyers are now struggling to establish acceptance above 1.1520. The latest price action suggests that the rally may be losing momentum exactly where sellers previously regained control. Price briefly traded above the zone, reached the 1.1550 area and then quickly returned below the highs. That failed follow-through leaves the pair vulnerable to a corrective move. Trade Plan Entry: 1.15210 Stop Loss: 1.15670 Take Profit 1: 1.14860 Take Profit 2: 1.14570 TP1 is positioned ahead of the nearest intraday reaction area and can be used to secure partial profits. TP2 sits inside the broader decision zone, where buyers may attempt to defend the recent breakout. Why This Level Matters The 1.1510–1.1530 region has acted as an important supply area on several occasions. Price previously sold off aggressively from this zone, and the latest recovery has once again started to hesitate inside it. The stop is placed above the recent liquidity spike and the upper boundary of the rejection structure. A sustained move above 1.15670 would show that sellers have lost control and invalidate the bearish setup. Market Context The fundamental backdrop is not entirely one-sided. The Federal Reserve kept its policy rate at 3.50%–3.75% in July, while the ECB also left rates unchanged after raising them in June. Eurozone growth and inflation data have remained relatively firm, limiting the case for a major structural decline in the euro. However, stronger U.S. manufacturing data and firmer Treasury yields have recently restored some demand for the dollar. Markets are also waiting for the upcoming U.S. employment report, which could reshape expectations for the Federal Reserve’s next move. This makes the setup a tactical short from resistance rather than a broad long-term bearish call on EUR/USD. Trading Scenarios A rejection below 1.1530 would keep sellers in control and expose 1.14860 first, followed by the 1.14570 decision zone. A confirmed hourly close above 1.15670 would invalidate the setup and suggest that the recovery is developing into a broader bullish continuation. For now, the central question is simple: can buyers establish control above supply, or has the recovery already reached its limit?