EUR/USD Price Analysis: Euro steadies near 1.1300 with bullish bias intact
- EUR/USD trades around the 1.1300 zone after modest gains in Tuesday’s post-European session.
- Bullish structure holds, though short-term indicators point to mixed momentum.
- Key support levels cluster just below, while trend-based indicators continue to favor buyers.
The EUR/USD pair moved slightly higher on Tuesday, trading near the 1.1300 zone after the European session as buyers remained in control despite a lack of strong momentum. The pair sits mid-range within today’s movement and is holding above key trend indicators, maintaining a bullish posture even as intraday signals suggest temporary indecision.
Technically, EUR/USD is flashing a bullish overall bias. The Moving Average Convergence Divergence currently prints a sell signal, while the Relative Strength Index stays neutral just under 60, reflecting steady—but not aggressive—momentum. The Awesome Oscillator and Stochastic %K are also neutral, pointing to limited short-term directional strength as the pair consolidates recent gains.
Beneath the surface, the bullish structure is well supported. The 20-day, 100-day, and 200-day Simple Moving Averages are all sloping upward and positioned below current price action. Reinforcing this trend are the 10-day EMA and SMA, which also point higher and sit just underneath the current zone, providing dynamic support on minor pullbacks.
Support is located at 1.1344, 1.1332, and 1.1331. Resistance remains limited at the upper end of today’s range near 1.1370. A decisive push above that zone could reactivate bullish momentum, while failure to hold support may lead to a brief pause in the uptrend without yet threatening the overall structure.
Daily Chart
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
