Euro Holds Up! EUR/USD Struggles to Escape Pressure Ahead of Weekend
The EUR/USD pair held steady after three consecutive days of weakness, trading around 1.1610 during the Asian session on Friday (January 16th). Although selling pressure has begun to ease, the 14-day Relative Strength Index (RSI) is at 35, indicating that momentum remains weak and favors the downside. This indicates that the market has not yet fully emerged from bearish pressure.
Technically, the daily chart shows EUR/USD remaining below the 9-day and 50-day EMAs, confirming the bearish trend remains dominant. The short-term moving averages are also below the medium-term averages, so the potential for a rebound is still limited. As long as the price fails to break through this area, downward pressure remains the primary risk.
From the support side, a decline could test the 1.1589 level, which is a six-week low. If this level is broken, EUR/USD could potentially continue its decline towards 1.1468, its lowest level since August 2025. Conversely, if a recovery occurs, the pair would need to break through resistance at 1.1648 and 1.1673. A strong breakout could open the way to 1.1808 and 1.1918, its highest levels in recent years. (az)
Source: Newsmaker.id
