EUR/USD Price Analysis: Pair climbs toward mid-1.1300s, bullish bias holds steady
- EUR/USD trades near the 1.1350 zone after advancing during Thursday’s session.
- Momentum indicators remain mixed, but moving averages confirm the bullish trend.
- Support seen at 1.1320 and 1.1195; resistance stands near 1.1375 and 1.1390.
The EURUSD pair gained ground following Thursday’s European session, moving near the 1.1350 area within a relatively narrow daily range. The upward move builds on recent strength, keeping the pair comfortably within bullish territory for now.
Technically, the Relative Strength Index is tracking near 63, offering a neutral-to-bullish stance, while the MACD indicator maintains a buy signal, hinting at continued upward momentum. Meanwhile, the Ultimate Oscillator and Stochastic oscillator are both neutral, suggesting limited short-term conviction.
The broader trend remains tilted to the upside, as evidenced by the alignment of key moving averages. The 20-day, 100-day, and 200-day simple moving averages—positioned at 1.1150, 1.0630, and 1.0765 respectively—are all trending higher. This bullish setup is further supported by the 10-day exponential moving average at 1.1320 and the 30-day EMA at 1.1090.
Looking ahead, immediate support is located at 1.1320, followed by 1.1195 and 1.1158. On the upside, resistance levels are seen at 1.1375 and 1.1390. A sustained move above these thresholds could open the door for further upside exploration.
Daily chart
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