|

EUR/USD Technical Analysis: Rebound confirms bullish short-term momentum

  • The pair rebounded at the 20-SMA in 4-hour chart at 1.1580 and rose back above 1.1600, signaling that the positive tone in the short-term remains in place.
  • Upside to face resistance at 1.1630 (55-SMA in 4-hour chart); a break higher likely to add more positive momentum to the pair.
  • Key resistance is seen around 1.1.700: psychological level and a downtrend line. If the euro rises above an extension to 1.1750 seems likely.
  • A consolidation below 1.1580 would expose weekly lows and negate the upside bias.
EUR/USD 15-minutes chart
EUR/USD

Spot rate:               1.1618
High:                     1.1627
Low:                      1.1572

Resistance 1:        1.1630
Resistance 2:        1.1655
Resistance 3:        1.1690

Support 1:             1.1600
Support 2:             1.1580
Support 3:             1.1550
 

Author

Matías Salord

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

More from Matías Salord
Share:

Editor's Picks

EUR/USD regains balance, targets 1.1800

EUR/USD has lost a bit of momentum after its earlier push higher and is now attempting to reclaim the key 1.1800 barrier on Monday. In the meantime, investors remain focused on the evolving US–EU trade relationship after President Trump’s announcement of sweeping global tariff hikes.

GBP/USD recedes from tops, back to 1.3500

GBP/USD is extending its move higher on Monday, meeting some resistance around 1.3530 on the back of the widespread bearish tone in the US Dollar amid ongoing uncertainty around tariffs. For now, traders are watching overall risk sentiment and central bank rhetoric for the next directional cue.

Gold advances to four-week highs, focus is on $5,200

Gold is holding onto its bullish tone on Monday, hovering near monthly highs well above the $5,100 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Crypto Today: Bitcoin, Ethereum, XRP intensify sell-off as tariff uncertainty weighs

Bitcoin, Ethereum and Ripple are trading amid increasing selling pressure at the time of writing on Monday, as investors react to fresh trade uncertainty over US President Donald Trump’s push for more tariffs.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.