EUR/USD Technical Analysis

Source: Dukascopy Bank SA
The market has shifted into a bullish trend after breaking out of its previous range between 1.1493 and 1.1630. Momentum is clearly strong, supported by a moving average crossover where the 30 SMA has moved above the 100 SMA, confirming bullish control.Price is now trading well above both moving averages, showing strength but also indicating it may be overextended in the short term. The pair is currently testing the 1.1700 area, with the next resistance zone sitting between 1.1750 and 1.1780.



The level at 1.1630 is now key support, as it previously acted as resistance and should serve as a foundation if price pulls back. A deeper retracement could bring price toward 1.1562, where the moving averages converge.Momentum remains strongly bullish, with large upward candles suggesting aggressive buying pressure. However, due to the sharp move higher, a pullback toward 1.1630 is a common scenario before continuation.

Overall, the outlook remains bullish as long as price holds above 1.1630, with upside targets at 1.1750 and 1.1780. Entering at current levels carries some risk, so waiting for a pullback may offer a better setup.
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EUR/USD Technical Analysis

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