EUR/USD Takes a Break—Just One Step to 1.2000?
EUR/USD weakened slightly to around 1.1870 after three days of gains, but its technical structure remains bullish. On the daily chart, the price is still moving within an ascending channel, and the 9-day moving average (EMA) is above the 50-day moving average (EMA)—both of which are rising—which usually signals a strong short-term trend. The Relative Strength Index (RSI) 14 is also still high at around 68.9 (near the overbought area), confirming that the upward momentum is not yet exhausted.
In terms of key levels, the nearest resistance is at 1.1918 (the peak since June 2021), followed by the 1.1950 area (the upper boundary of the channel). If a clear break above these areas, the next logical target is the psychological level of 1.2000. Conversely, if the correction continues, key support areas are at 1.1770–1.1750. If it breaks, pressure could fall to test 1.1697, then 1.1589, and then around 1.1570. (az)
Source: Newsmaker.id