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EUR/USD Price Analysis: Bulls remain in control near 1.1400 despite mixed signals

  • EUR/USD trades near the 1.1400 zone after mild losses post-European session
  • Momentum indicators offer mixed cues; price action still supported by major moving averages
  • Support seen at 1.1330 and 1.1100 while bulls eye 1.1420 zone

The EUR/USD pair showed mild downside on Monday’s session after the European close, though it continued to hover around the 1.1400 region. Despite the slight pullback, the pair maintained its overall bullish structure, staying well within the upper half of the daily range between 1.12956 and 1.14242.

From a technical perspective, the Relative Strength Index (RSI) prints 76, suggesting the pair is in overbought territory. However, the MACD maintains a bullish posture with a buy signal, pointing to underlying positive momentum. In contrast, the Commodity Channel Index (20) at 231.17 flashes a sell warning, while the Average Directional Index (14) at 41.01 offers no directional bias.

Beneath the surface, the moving averages continue to anchor the bullish sentiment. The 10-day exponential moving average at 1.10918 and the 10-day simple moving average at 1.10382 both lean upward, aligning with the 20-day (1.09333), 100-day (1.05647), and 200-day (1.07456) simple moving averages, which all signal strong upward momentum in the medium-to-long term.

On the levels front, key support lies at 1.13347, followed by 1.1103 and 1.10918. Immediate resistance is seen around the 1.1420 area, with further upside likely to face psychological barriers near 1.1450 and beyond, should bulls retain control.

Daily chart

Author

Patricio Martín

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

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