• EUR/USD holds steady above 1.0500 in the European session on Thursday.
  • The near-term technical outlook points to a lack of bullish momentum.
  • The 20-day SMA aligns as next immediate resistance at 1.0550.

EUR/USD met resistance near 1.0550 on Wednesday but managed to close the day above 1.0500. The pair clings to small daily gains and the technical outlook is yet to point to a buildup of bullish momentum.

Euro PRICE This week

The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the Australian Dollar.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   0.52% 0.17% 0.33% 0.49% 1.14% 0.92% 0.52%
EUR -0.52%   -0.39% -0.17% -0.01% 0.71% 0.42% 0.02%
GBP -0.17% 0.39%   0.17% 0.37% 1.10% 0.81% 0.38%
JPY -0.33% 0.17% -0.17%   0.17% 0.84% 0.63% 0.12%
CAD -0.49% 0.01% -0.37% -0.17%   0.81% 0.44% -0.00%
AUD -1.14% -0.71% -1.10% -0.84% -0.81%   -0.29% -0.75%
NZD -0.92% -0.42% -0.81% -0.63% -0.44% 0.29%   -0.41%
CHF -0.52% -0.02% -0.38% -0.12% 0.00% 0.75% 0.41%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

The US Dollar (USD) struggled to gather strength following the disappointing macroeconomic data releases on Wednesday and helped EUR/USD hold its ground. The political uncertainty in France, however, limited the Euro's gains. French Prime Minister Michel Barnier is expected to submit his resignation on Thursday after his government lost the no-confidence vote in parliament.

In the European session, the cautious market stance doesn't allow EUR/USD to stretch higher. In the second half of the day, the US economic calendar will feature weekly Initial Jobless Claims data. A reading below 200,000 could boost the USD with the immediate reaction, while a print near 250,000 could have the opposite impact on the currency's valuation.

Nevertheless, investors could refrain from taking large positions ahead of Friday's highly-anticipated November labor market report from the US.

EUR/USD Technical Analysis

The Relative Strength Index (RSI) indicator on the 4-hour chart stays near 50, reflecting a lack of bullish momentum.

Additionally, EUR/USD is yet to clear the 1.0520-1.030 resistance, where the Fibonacci 23.6% retracement of the latest downtrend and the 100-period Simple Moving Average (SMA) are located. In case EUR/USD stabilizes above this area, the 20-day Simple Moving Average (SMA) could act as next resistance at 1.0550 ahead of 1.0600 (Fibonacci 38.2% retracement).

On the downside, 1.0500 (static level) aligns as interim support before 1.0440 (static level) and 1.0400 (end-point of the downtrend, static level).

Euro FAQs

The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).

The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.

Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.

Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.

Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD: Extra gains need to clear 0.6400

AUD/USD: Extra gains need to clear 0.6400

AUD/USD rose for the third day in a row, approaching the key 0.6400 resistance on the back of the acute pullback in the US Dollar amid mounting recession concerns and global trade war fear.

AUD/USD News
EUR/USD: Powell and the NFP will put the rally to the test

EUR/USD: Powell and the NFP will put the rally to the test

EUR/USD gathered extra steam and advanced to multi-month peaks near 1.1150, although the move fizzled out somewhat as the NA session drew to a close on Thursday.

EUR/USD News
Gold looks offered near $3,100

Gold looks offered near $3,100

Prices of Gold remain on the defensive on Thursday, hovering around the $3,100 region per troy ounce and retreating from earlier all-time peaks near the $3,170 level, all against the backdrop of investors' assessment of "Liberation Day".

Gold News
Interoperability protocol hyperlane reveals airdrop details

Interoperability protocol hyperlane reveals airdrop details

The team behind interoperability protocol Hyperlane shared their upcoming token airdrop plans happening at the end of the month. The airdrop will occur on April 22, and users can check their eligibility to receive $HYPER tokens via a portal provided by the Hyperlane Foundation by April 13, the team shared in a press release with CoinDesk.

Read more
Trump’s “Liberation Day” tariffs on the way

Trump’s “Liberation Day” tariffs on the way

United States (US) President Donald Trump’s self-styled “Liberation Day” has finally arrived. After four straight failures to kick off Donald Trump’s “day one” tariffs that were supposed to be implemented when President Trump assumed office 72 days ago, Trump’s team is slated to finally unveil a sweeping, lopsided package of “reciprocal” tariffs. 

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Majors

Cryptocurrencies

Signatures

Best Brokers of 2025