EUR/USD Price Analysis: Holds bullish tone despite mild pullback from highs
- EUR/USD trades near the 1.1500 zone after drifting modestly lower post-European session.
- Technical outlook remains bullish overall, with MACD signaling buy and moving averages aligned higher.
The EUR/USD pair is flashing a bullish signal, currently trading around the 1.1500 area after posting a slight decline during Tuesday’s session following the European close. Despite the intraday dip, the pair maintains its broader upward trajectory and remains anchored near the middle of the session’s range between 1.1455 and 1.1547.
From a technical perspective, indicators present a slightly mixed bias. The Relative Strength Index (RSI) is above 70, hinting at overbought territory and flashing a mild sell signal. However, the Moving Average Divergence Convergence (MACD) remains firmly bullish, continuing to support upside momentum. The Ultimate Oscillator and Bull Bear Power both sit in neutral territory, offering no clear directional cue.
The bullish case is strongly reinforced by moving averages. The 20-day, 100-day, and 200-day Simple Moving Averages (SMAs) — at 1.1099, 1.0618, and 1.0762, respectively — are all trending upward. Short-term dynamics are also favorable, with the 10-day EMA and SMA positioned around 1.1325–1.1328, offering immediate support.
Daily chart
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
