EUR/USD Price Forecast: Climbs but struggles at 1.0400
- EUR/USD ascends over 0.78%, buoyed by potential US tariff implications and a weak Dollar environment.
- Technical analysis points to a buyer's market as EUR/USD crosses 1.0400, with eyes set on further resistance levels.
- Near-term support and resistance levels defined at 1.0222 and 1.0500, with a critical watch on the 50-day SMA at 1.0558.
The EUR/USD increased over 0.78%, boosted by an article in The Washington Post mentioning three US President-elect Trump aides and saying that tariffs will be applied, focusing on specific sectors. The pair trades at 1.0388, above its opening price.
EUR/USD Price Forecast: Technical outlook
The EUR/USD finished 2024 at around 1.0260, but since then, buyers have stepped in, pushing the exchange rate above 1.0300, hitting a four-day peak of 1.0436 after The Washington Post headline.
Momentum seems to favor buyers, though the Relative Strength Index (RSI), despite edging upwards, remains bearish.
If buyers want to push the EUR/USD higher, they need to decisively clear 1.0400, followed by 1.0500. If surpassed, the next resistance would be the 50-day Simple Moving Average (SMA) at 1.0558, followed by 1.0600.
On the other hand, if bears stepped in, keeping the major below 1.0400, this could exacerbate a pullback toward last year’s low of 1.0222. On further weakness, parity emerges as the next support level.
EUR/USD Price Chart – Daily
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.79% | -0.76% | 0.24% | -0.79% | -0.39% | -0.40% | -0.58% | |
| EUR | 0.79% | 0.03% | 1.00% | 0.06% | 0.45% | 0.43% | 0.24% | |
| GBP | 0.76% | -0.03% | 0.99% | 0.03% | 0.42% | 0.40% | 0.21% | |
| JPY | -0.24% | -1.00% | -0.99% | -1.02% | -0.59% | -0.58% | -0.58% | |
| CAD | 0.79% | -0.06% | -0.03% | 1.02% | 0.33% | 0.34% | 0.18% | |
| AUD | 0.39% | -0.45% | -0.42% | 0.59% | -0.33% | -0.01% | -0.20% | |
| NZD | 0.40% | -0.43% | -0.40% | 0.58% | -0.34% | 0.01% | -0.19% | |
| CHF | 0.58% | -0.24% | -0.21% | 0.58% | -0.18% | 0.20% | 0.19% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Christian Borjon Valencia
FXStreet
Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.
