The euro extended its advance against the US dollar on August 17, 2026, with EUR/USD climbing above the 1.1600 level to trade near 1.1605. The move places the pair firmly above the 100-day simple moving average near 1.1520 and the 50% Fibonacci retracement of the broader downtrend at approximately 1.1580, converting that zone into support.
According to BitcoinWorld, bulls remain in control as the pair approaches a key resistance confluence. The first significant hurdle is the 61.8% Fibonacci level near 1.1680, followed by the psychological 1.1700 mark. A sustained daily close above this resistance could trigger additional momentum buying, while rejection may lead to consolidation or a pullback toward the 1.1580 support and the 100-SMA.
The euro's strength has been supported by cooling US inflation data and increased expectations that the Federal Reserve may pause its rate hike cycle. Meanwhile, the European Central Bank has maintained a hawkish tone, narrowing the yield differential between US and German bonds and making the euro more attractive. Improved global risk appetite has also reduced safe-haven demand for the dollar.
For traders, immediate support sits at 1.1580, with a stronger floor at the 100-day SMA near 1.1520. A daily close below that moving average would weaken the bullish case and could open the door for a retest of 1.1500.
