EUR/USD Price Analysis: Pair eases toward mid-range despite holding bullish structure
- EUR/USD was seen around the 1.08 area after Monday's European session, easing slightly within its daily range.
- Despite today’s retreat, the pair maintains a bullish structure supported by longer-term moving averages.
- Support lies at the 1.0730 zone, while the pair must reclaim 1.0830–1.0840 to revive upside momentum.
The EUR/USD pair slightly declined on Monday’s session after the European close, holding near the 1.08 zone and staying confined within its daily range. While the price action leans mildly bearish intraday, broader technical signals continue to suggest underlying bullish support, especially from longer-term indicators. The MACD has generated a fresh sell signal, but the broader context still favors bulls as the 100-day and 200-day simple moving averages maintain an upward slope.
Daily chart
The short-term technical picture shows a mixed setup. The 14-period Relative Strength Index stands at 57.6, hovering in neutral territory, while the Stochastic oscillator also sits neutrally near 35.5. Exponential moving averages remain favorable: the 10-day EMA at 1.0811 and the 30-day EMA at 1.0723 both point higher, signaling buyers may still have control if the pair holds above key support levels.
The immediate support rests near 1.0793, followed by 1.0773 and the 200-day SMA around 1.0730, which forms a crucial floor for bulls. On the upside, resistance appears around 1.0811, 1.0823, and 1.0828 — levels that must be cleared to revive upside conviction. Overall, the EUR/USD keeps a cautiously bullish outlook, though intraday price action may remain choppy as long as the pair consolidates around the mid-1.08s.
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
