EUR/USD Price Analysis: Euro steadies near 1.1400 after soft pullback
- EURUSD trades near the 1.1400 area, slipping slightly after the European session.
- The bullish bias persists despite mixed short-term momentum signals.
- Resistance seen around 1.1378; support zones near 1.1335 and 1.1215.
The EURUSD pair was seen hovering near the 1.1400 region on Friday after easing slightly in the aftermath of the European session. The pair is consolidating within a narrow range between 1.1315 and 1.1391, reflecting a pause in bullish momentum while still holding ground near recent highs.
Technically, the broader picture remains constructive. The 20-day, 100-day, and 200-day simple moving averages all point higher, supporting the ongoing bullish trend. Shorter-term indicators like the 10-day EMA and 30-day EMA also reinforce this outlook, suggesting that pullbacks may find support.
Momentum readings, however, are mixed. The Relative Strength Index is neutral, while the MACD continues to issue a buy signal. At the same time, the 10-period Momentum indicator flashes a mild sell, and Bull Bear Power remains flat, highlighting near-term indecision.
Key support levels are located at 1.1369, 1.1335, and 1.1215. On the upside, resistance is expected at 1.1378, with further gains likely requiring stronger bullish conviction.
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
