EUR/USD Price Analysis: Bulls tighten grip as pair surges to multi-month highs

EUR/USD extended its rally after the European session, trading near fresh multi-month highs above key moving averages.
The pair has surged more than 3.70% in the week, shifting the outlook decisively in favor of buyers.

Patricio Martín FXStreet

EUR/USD gained significant ground on Wednesday, pushing further into bullish territory after an already strong performance in recent sessions. The pair saw renewed demand during the European session, soaring to its highest level since November. With price action now firmly above the 20, 100, and 200-day Simple Moving Averages (SMAs), buyers appear to be in control, reinforcing an upward bias.

Technical indicators reflect this bullish momentum. The Relative Strength Index (RSI) is rising sharply and hovers near overbought territory, suggesting strong buying pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) has printed a fresh green bar, further confirming the shift in sentiment. Given the magnitude of recent gains, a period of consolidation or mild pullback cannot be ruled out in the short term.

Looking at key levels, immediate resistance is seen near 1.0730, a zone that could determine whether the bullish run extends further. On the downside, initial support lies around 1.0505, with stronger buying interest expected near the 100-day SMA. A move below these levels could indicate a pause in bullish momentum, though the broader outlook remains positive as long as price action holds above key trend-defining SMAs.

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.

GBP/USD climbs to two-day highs past 1.3200

GBP/USD picks up extra pace and surpasses the 1.3200 threshold on Thursday. That said, Cable manages to shrug off initial weakness and regain balance on the back of the fresh selling pressure hurting the Greenback.

EUR/USD pushes harder; focus is back to 1.1400

EUR/USD’s daily recovery now gathers steam, sending spot to the vicinity of the key 1.1400 barrier on Thursday. The pair’s bounce follows some decent loss of momentum in the US Dollar in the wake of the release of US PCE data and the weekly labour market readings.

Gold bounces from 2026 lows, remains pressured

Gold reverses part of its recent weakness on Thursday, managing to reclaim the area just above the $4,000 mark per troy ounce. The precious metal regains traction on the back of renewed selling interest in the Greenback, although expectations of rate hikes by the Fed are likely to keep buyers on the sidelines for now.

Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

The broader cryptocurrency market remains under intense selling pressure, with Bitcoin back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours.

Crypto Today: Bitcoin, Ethereum, and Ripple defend their last line of defenses

The broader cryptocurrency market remains under immense downward pressure as investors' interest shifts toward lucrative AI and memory stocks. Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are holding above their June 6 lows, with bulls hoping short-term resilience will ward off sellers.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.