EUR/USD Price Analysis: Pair climbs toward mid-1.1300s, bullish bias holds steady
- EUR/USD trades near the 1.1350 zone after advancing during Thursday’s session.
- Momentum indicators remain mixed, but moving averages confirm the bullish trend.
- Support seen at 1.1320 and 1.1195; resistance stands near 1.1375 and 1.1390.
The EURUSD pair gained ground following Thursday’s European session, moving near the 1.1350 area within a relatively narrow daily range. The upward move builds on recent strength, keeping the pair comfortably within bullish territory for now.
Technically, the Relative Strength Index is tracking near 63, offering a neutral-to-bullish stance, while the MACD indicator maintains a buy signal, hinting at continued upward momentum. Meanwhile, the Ultimate Oscillator and Stochastic oscillator are both neutral, suggesting limited short-term conviction.
The broader trend remains tilted to the upside, as evidenced by the alignment of key moving averages. The 20-day, 100-day, and 200-day simple moving averages—positioned at 1.1150, 1.0630, and 1.0765 respectively—are all trending higher. This bullish setup is further supported by the 10-day exponential moving average at 1.1320 and the 30-day EMA at 1.1090.
Looking ahead, immediate support is located at 1.1320, followed by 1.1195 and 1.1158. On the upside, resistance levels are seen at 1.1375 and 1.1390. A sustained move above these thresholds could open the door for further upside exploration.
Daily chart
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
