EUR/USD Range-Bound Below 1.1848 Weekly Close, Neutral Bias Above 1.1642 Support

As of May 9, 2026, EUR/USD remains range-bound below key resistance at 1.1848 with a neutral weekly bias, expected to lean higher if 1.1642 support holds but risks 1.1408 low on a 1.1662 break. After a 100-pip plunge to 1.1653 post-Fed/ECB on April 30, the pair rebounded from 1.1680 swing low, breaking a 4-hour bearish trendline at 1.1710 and forming a bullish flag before stalling under 1.1775-1.1848. It now consolidates in a 1.1730-1.1735 ascending channel above the 4-hour 200 SMA at 1.1670, with RSI below 50 and MACD negative ahead of US NFP (+62k consensus), as Iran tensions limit upside.