EUR/USD Price Forecast: Keeps bullish vibe, first upside target emerges near 1.1400
EUR/USD holds steady near 1.1360 in Monday’s Asian session.
The positive view of the pair prevails above the key 100-day EMA with the bullish RSI indicator.
The immediate resistance level emerges at 1.1400; the first support level to watch is 1.1315.
The EUR/USD pair trades on a flat note around 1.1360 during the Asian session on Monday. The Greenback steadies as traders are confused by mixed signals on US-China trade relations. Despite US President Donald Trump's claims that there has been progress and that he has talked with China’s President Xi Jinping, Beijing has denied that trade negotiations are taking place, and US Treasury Secretary Scott Bessent did not announce on Sunday that tariff talks were underway.
Technically, the constructive outlook of EUR/USD remains in place as the major is well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is reinforced by the Relative Strength Index (RSI), which stands above the midline near 61.80, displaying bullish momentum in the near term.
The first upside target for the major pair emerges at the 1.1400 psychological level. Extended gains could see a rally to 1.1547, the high of April 22. The additional upside filter to watch is 1.1647, the upper boundary of the Bollinger Band.
On the flip side, the initial support level for EUR/USD is seen at 1.1315, the low of April 24. Sustained trading below the mentioned level could see a drop to the key contention level at 1.1000, the round figure. The next downside target to watch is 1.0888, the low of April 8.
EUR/USD daily chart
Read more
* 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.
