EUR/USD Price Forecast: Tests nine-day EMA barrier near 1.1500 due to bullish bias

FXStreet
Updated
Mitrade
coverImg
Source: DepositPhotos

  • EUR/USD is testing the immediate barrier at the nine-day EMA of 1.1494.

  • The 14-day Relative Strength Index holds above the 50 mark, reinforcing the bullish momentum.

  • The initial support appears at the ascending channel’s lower boundary around 1.1420.

EUR/USD extends its winning streak for the fourth successive session, trading around 1.1490 during the Asian hours on Monday. On the daily chart, technical analysis indicates a strengthening of a bullish bias, as the pair continues to trade within an ascending channel pattern.

The 14-day Relative Strength Index (RSI) remains above the 50 level, strengthening the bullish outlook. However, the EUR/USD pair is positioned below the nine-day Exponential Moving Average (EMA), indicating that short-term price momentum is weakening.

On the upside, the EUR/USD pair is testing the immediate barrier at the nine-day EMA of 1.1494. A break above this level would improve the short-term price momentum and prompt the pair to challenge the 1.1631, the highest since October 2021, which was marked on June 12, followed by the upper boundary of the ascending channel around 1.1730.

The EUR/USD pair may find the initial support at the ascending channel’s lower boundary around 1.1420. A break below the channel may cause the emergence of the bearish bias and put downward pressure on the pair to test the 50-day EMA at 1.1314.

Further decline would weaken the medium-term price momentum and lead the pair to test the two-month low of 1.1064, followed by the three-month low of 1.0778, last seen on April 1.

EUR/USD: Daily Chart

Euro PRICE Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.


USDEURGBPJPYCADAUDNZDCHF
USD
-0.38%-0.12%0.24%0.03%0.35%0.45%0.03%
EUR0.38%
0.24%0.69%0.42%0.69%0.82%0.38%
GBP0.12%-0.24%
0.47%0.18%0.46%0.59%0.14%
JPY-0.24%-0.69%-0.47%
-0.23%0.07%0.26%-0.29%
CAD-0.03%-0.42%-0.18%0.23%
0.36%0.41%-0.04%
AUD-0.35%-0.69%-0.46%-0.07%-0.36%
0.12%-0.32%
NZD-0.45%-0.82%-0.59%-0.26%-0.41%-0.12%
-0.45%
CHF-0.03%-0.38%-0.14%0.29%0.04%0.32%0.45%

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).

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Dollar and long-term Treasuries fall as Trump intensifies Fed clash; gold gainsThe dollar and long-term U.S. Treasury bonds declined on Tuesday following President Donald Trump’s unprecedented move to dismiss Federal Reserve Governor Lisa Cook.
Author  Mitrade
Aug 26, Tue
The dollar and long-term U.S. Treasury bonds declined on Tuesday following President Donald Trump’s unprecedented move to dismiss Federal Reserve Governor Lisa Cook.
placeholder
Dollar Weakens on Growing Fed Cut Expectations; Bitcoin Hits New Record HighThe U.S. dollar dropped to multi-week lows on Thursday as traders intensified expectations that the Federal Reserve will resume cutting interest rates next month.
Author  Mitrade
Aug 14, Thu
The U.S. dollar dropped to multi-week lows on Thursday as traders intensified expectations that the Federal Reserve will resume cutting interest rates next month.
placeholder
Eurozone Economy Posts Modest Growth in Q2, Faces Headwinds from U.S. TariffsThe eurozone economy saw a slight improvement in the second quarter of 2025, growing by 0.1%, according to Eurostat data released Tuesday. This modest expansion outpaced expectations for flat growth, but still marked a sharp slowdown from the 0.6% expansion recorded in the first quarter.
Author  Mitrade
Jul 30, Wed
The eurozone economy saw a slight improvement in the second quarter of 2025, growing by 0.1%, according to Eurostat data released Tuesday. This modest expansion outpaced expectations for flat growth, but still marked a sharp slowdown from the 0.6% expansion recorded in the first quarter.
placeholder
Stocks Climb, Euro Strengthens After US-EU Trade AccordGlobal equities advanced and the euro strengthened on Monday as the United States and the European Union reached a pivotal trade accord, boosting investor sentiment amid a week packed with crucial central bank meetings by the Federal Reserve and the Bank of Japan.
Author  Mitrade
Jul 28, Mon
Global equities advanced and the euro strengthened on Monday as the United States and the European Union reached a pivotal trade accord, boosting investor sentiment amid a week packed with crucial central bank meetings by the Federal Reserve and the Bank of Japan.
placeholder
EUR/USD rebounds from 1.1600 despite market caution ahead of US PPI dataEUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders’ caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday.
Author  FXStreet
Jul 16, Wed
EUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders’ caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday.
Real-time Quote