EUR/USD Price Analysis: Posts fresh five-month high near 1.1120 ahead of US data

EUR/USD rises toward the major resistance at the 1.1150 level.
Technical indicators suggest a bullish momentum to reach the psychological level of 1.1200.
The psychological level of 1.1100 could act as key support following the seven-day EMA at 1.1041.

Akhtar Faruqui FXStreet

EUR/USD maintains its winning streak, with the Euro (EUR) gaining ground against the subdued US Dollar (USD). This trend is likely influenced by the anticipated dovish stance of the US Federal Reserve (Fed) on the interest rate trajectory. The EUR/USD pair trades around the 1.1110 level during the Asian session on Thursday.

The Moving Average Convergence Divergence (MACD) signals an overall positive momentum for the EUR/USD pair. The MACD line's position above the centerline and the divergence above the signal line indicates a bullish sentiment.

This positive momentum could inspire bulls of the EUR/USD pair to aim for a breakthrough above the five-month high at 1.1122. If successful, it may pave the way for the EUR/USD pair to explore major resistance at 1.1150, following the next significant level at the psychological level of 1.1200.

In addition to the positive momentum indicated by the MACD, the lagging indicator 14-day Relative Strength Index (RSI) positions above the 50 mark. This suggests a confirmation of the potential upward trend in the EUR/USD pair.

On the downside, the EUR/USD pair could find support at the psychological level of 1.1100, following the seven-day Exponential Moving Average (EMA) at 1.1041. A break below the EMA could lead the pair to test the psychological support region around 1.1000, further navigating towards the region around the 23.6% Fibonacci retracement level at 1.0964.

EUR/USD: Daily Chart

EUR/USD: more technical levels to watch

Overview
Today last price	1.1114
Today Daily Change	0.0008
Today Daily Change %	0.07
Today daily open	1.1106

Trends
Daily SMA20	1.0903
Daily SMA50	1.0809
Daily SMA100	1.0757
Daily SMA200	1.0841

Levels
Previous Daily High	1.1123
Previous Daily Low	1.1029
Previous Weekly High	1.104
Previous Weekly Low	1.0892
Previous Monthly High	1.1017
Previous Monthly Low	1.0517
Daily Fibonacci 38.2%	1.1087
Daily Fibonacci 61.8%	1.1065
Daily Pivot Point S1	1.1049
Daily Pivot Point S2	1.0992
Daily Pivot Point S3	1.0955
Daily Pivot Point R1	1.1143
Daily Pivot Point R2	1.118
Daily Pivot Point R3	1.1237

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

AUD/USD bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold trims gains; back below $4,200

Gold now gives away part of its initial bullish attempt to weekly highs, returning to the area below the $4,200 mark per troy ounce on Friday. The current pick-up in the US Dollar’s upside momentum in combination with rising US Treasury yields across the curve seem to keep extra gains in the yellow metal under scrutiny.

Ethereum activates Glamsterdam on Sepolia testnet: Why the price is falling anyway

Ethereum (ETH) has reached a key milestone in its next major network upgrade. The planned changes aim to improve Ethereum’s Layer 1 capacity and efficiency as network activity grows. The development comes as ETH retreats toward $2,500, highlighting the contrast between the network’s long-term technical progress and its short-term market weakness.

UoM Consumer Sentiment Index expected to decline in October amid high Oil prices

The Preliminary Michigan Consumer Sentiment Index is forecast to decline for a third consecutive month in October. The US Dollar Index maintains upward pressure near its 2026 peak in the 102.50 region ahead of the release.

The UK 30-year gilt just hit a 1998 high. Is that good or bad for the British Pound?

The yield on the UK's 30-year government bond, or gilt, went through 6% on October 1 for the first time since early 1998, and on Monday the Pound was at its strongest against the Euro since June 2025. The gilt market's 28-year high is mostly someone else's. Since early May, the 30-year gilt yield has risen about 0.15 of a percentage point and the US 30-year about 0.7.