EUR/USD Price Analysis: Bulls push toward fresh highs as pair trades above the 1.1300 zone
- EUR/USD trades near the 1.1300 zone after a strong upside in Friday's session
- MACD flashes a buy signal while the RSI flashes with overbought territory
- Key SMAs reinforce the bullish bias, with support seen in the 1.11–1.1000 range
The EUR/USD pair extended its rally on Friday, rising sharply and moving near the 1.1300 zone after the European session. With the pair positioned mid-range between 1.1187 and 1.1473, bulls remain in control, pushing toward new highs for the year amid renewed risk appetite.
Technical indicators show a strong bullish setup, although some caution emerges. The Relative Strength Index (RSI) stands at 75.43, hinting at overbought conditions, while the MACD continues to generate a clear buy signal. The Stochastic %K at 74.94 and the Awesome Oscillator at 0.03 both remain neutral, suggesting momentum may stabilize in the short term.
The broader trend remains constructive, supported by upward-sloping moving averages. The 20-day SMA at 1.09102, the 100-day SMA at 1.05556, and the 200-day SMA at 1.07427 all suggest sustained upside pressure. Shorter-term moving averages like the 10-day EMA (1.10273) and 10-day SMA (1.09813) reinforce the ongoing bullish momentum.
Looking ahead, support levels are seen at 1.11728, 1.1103, and 1.10273. On the upside, traders may look for potential continuation toward the 1.14 handle if the bullish breakout holds, though slightly overbought conditions may prompt a pause or minor correction in the near term.
EUR/USD Daily chart
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
