EUR/USD Price Analysis: Euro climbs as bullish bias holds after European session gains
- EUR/USD trades near the 1.1500 zone, maintaining upside momentum after Monday’s European session.
- Despite overbought signals, technical structure remains bullish with all key moving averages supporting gains.
- Support is seen at 1.1458, 1.1290, and 1.1274; resistance levels remain unconfirmed as the rally extends.
The EUR/USD pair is gaining traction on Monday’s session, rising to the 1.1500 region and marking a 1% intraday increase. The pair sits mid-range between 1.1391 and 1.1572, with bullish sentiment supported by price action and technical indicators.
The Relative Strength Index (RSI) prints at 75.0446, in overbought territory but not yet flashing a reversal signal. Meanwhile, the Moving Average Convergence Divergence (MACD) continues to issue a firm buy signal, reinforcing the upside. Other momentum indicators such as the Williams Percent Range (-7.9950) and Stochastic %K (88.0063) remain neutral, suggesting that the pair could still push higher before any meaningful correction.
Moving averages further bolster the bullish narrative. The 20-day Simple Moving Average (SMA) stands at 1.1064, with the 100-day at 1.0609 and the 200-day at 1.0759 — all aligned to the upside. Shorter-term levels like the 10-day Exponential Moving Average (EMA) at 1.1290 and 10-day SMA at 1.1274 also support the bullish case.
Daily chart
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
