EUR/USD Price Forecast: Rises to near 1.1450 after breaking above nine-day EMA
- EUR/USD could pull back below the nine-day EMA of 1.1425.
- The 14-day Relative Strength Index at 45 suggests that any price rebounds currently lack strong upward momentum.
- The initial resistance lies at the three-week high of 1.1472.
EUR/USD gains ground after posting losses in the previous day, trading around 1.1440 during the European hours on Monday. The currency pair holds just above the nine-day Exponential Moving Average (EMA) but remains capped by the 50-day EMA, keeping the near-term tone cautiously bearish.
The 14-day Relative Strength Index (RSI) at 45 stays below the neutral 50 line, hinting that rebounds lack strong momentum even as price stabilizes slightly off recent lows. The daily chart technical analysis indicates that the EUR/USD pair is remaining slightly above the descending channel pattern, suggesting that while a bearish bias persists, immediate downside momentum is pausing as buyers defend the channel's upper boundary.
A successful break below the nine-day EMA of 1.1425 could pull EUR/USD back toward the descending channel and target the 13-month low of 1.1322, which was recorded on June 24. A break below this level could put downward pressure on the pair to navigate the area around the lower boundary of the descending channel at 1.1060.
On the upside, the primary barrier lies at the three-week high of 1.1472, reached on July 2, followed by the 50-day EMA of 1.1521.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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 | -0.15% | 0.07% | 0.23% | -0.10% | 0.19% | -0.33% | -0.02% | |
| EUR | 0.15% | 0.22% | 0.39% | 0.05% | 0.35% | -0.14% | 0.15% | |
| GBP | -0.07% | -0.22% | 0.17% | -0.17% | 0.15% | -0.34% | -0.04% | |
| JPY | -0.23% | -0.39% | -0.17% | -0.34% | -0.04% | -0.52% | -0.20% | |
| CAD | 0.10% | -0.05% | 0.17% | 0.34% | 0.31% | -0.16% | 0.14% | |
| AUD | -0.19% | -0.35% | -0.15% | 0.04% | -0.31% | -0.45% | -0.14% | |
| NZD | 0.33% | 0.14% | 0.34% | 0.52% | 0.16% | 0.45% | 0.31% | |
| CHF | 0.02% | -0.15% | 0.04% | 0.20% | -0.14% | 0.14% | -0.31% |
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
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.
