EUR/USD has surged higher, reclaiming both the 50-day (1.0493) and 200-day SMA (1.0272), signaling a shift toward bullish momentum. The pair is now testing a critical resistance level at 1.0940, which previously acted as support before the late-2024 decline.
Momentum indicators confirm strong buying pressure:
📈 MACD is crossing into positive territory, indicating bullish momentum.
📊 RSI at 71.92 suggests overbought conditions, hinting at a possible near-term pullback or consolidation.
Key Levels to Watch:
📌 Support: 1.0800 (recent breakout point), 1.0700 (psychological level)
📌 Resistance: 1.0940 (current test), 1.1000 (next major target)
A break above 1.0940 could fuel a continuation higher toward 1.10, while failure at this level may trigger a pullback toward the 1.08 support zone.
-MW
Momentum indicators confirm strong buying pressure:
📈 MACD is crossing into positive territory, indicating bullish momentum.
📊 RSI at 71.92 suggests overbought conditions, hinting at a possible near-term pullback or consolidation.
Key Levels to Watch:
📌 Support: 1.0800 (recent breakout point), 1.0700 (psychological level)
📌 Resistance: 1.0940 (current test), 1.1000 (next major target)
A break above 1.0940 could fuel a continuation higher toward 1.10, while failure at this level may trigger a pullback toward the 1.08 support zone.
-MW
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.