EUR/USD midweek: holding 1.1638 in thin conditions, 2026-05-25

Where EUR/USD stands midweek

EUR/USD closed Wednesday at 1.16379, down just 33 pips from Monday's open at 1.16412. The pair has traded a narrow 365-pip range this week, hitting a high of 1.16524 on Monday and a low of 1.16159 on Tuesday.

What has driven price so far

Thin conditions have defined the first three sessions. Wednesday's volume dropped to 10,189 contracts, less than a quarter of Tuesday's 44,119. Without major data releases, the euro has drifted in a 200-pip channel while traders wait for clearer signals.

What's still ahead

The calendar remains empty through Friday's close. This data vacuum leaves EUR/USD vulnerable to headline-driven moves, particularly around US-Iran developments that emerged in early Asian trading. If geopolitical tensions escalate, expect dollar buying to pressure the pair toward Tuesday's 1.16159 low. If markets stay calm, the 1.1640 to 1.1650 zone remains the path of least resistance.

Positioning right now

Current positioning shows 51.6% of LHFX traders long EUR/USD versus 48.4% short as of Wednesday morning. This near-neutral split reflects the market's indecision midweek, with neither bulls nor bears commanding a clear majority.

The level that matters today

The 1.1640 area has capped three consecutive sessions, making it the immediate resistance to watch. If EUR/USD breaks above and holds, Monday's 1.16524 high comes back into view. Below, Tuesday's 1.16159 low marks the week's key support. Trade EUR/USD with LHFX as the week's second half unfolds.

Byline: LHFX Research

Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.