After a strong upward movement, we have been witnessing a descent of EUR/USD for a few days now. This range aligns with the 0.618 retracement level and represents a dynamic support stemming from the lows in October. Adding to this, it coincides with a significant support level observed on May 31.
Inversely, this can be coupled with the dollar chart, which is very close to the 0.618 value of the recent bullish movement.