- EUR/USD hovers around the 1.1200 level following a strong rally.
- Technical signals remain bullish, with the MACD pointing to continued upside and key moving averages offering solid support.
- While support lies near the 1.1000 mark, resistance is currently undefined after the pair surged to fresh yearly highs.
The EUR/USD pair continued its impressive rally during Thursday’s session, extending gains after the European close and edging closer to the 1.1200 mark. Posting one of its strongest daily performances in recent months, the pair now trades near the upper boundary of its intraday range, which spans from 1.09426 to 1.1220. This surge reinforces the bullish momentum as EUR/USD flirts with new highs for 2025.
Momentum indicators remain broadly supportive of continued gains. The Relative Strength Index (RSI) currently reads 70.98 — elevated, yet not signaling an extreme overbought condition. The MACD is issuing a clear buy signal, reflecting underlying strength in the move. Meanwhile, the Williams %R at -0.50 and the Stochastic %K at 68.41 both remain in neutral territory, indicating that the rally has room to run before any meaningful corrective pressure builds.
A strong alignment of key moving averages supports the bullish trend. The 20-day Simple Moving Average (SMA) at 1.08865, 100-day SMA at 1.05475, and 200-day SMA at 1.07399 are all rising and sit comfortably below current price action. Additionally, the short-term trend is reinforced by the 10-day EMA at 1.09561 and the 10-day SMA at 1.09285 — both trending higher and providing dynamic support.
On the downside, initial support is seen at 1.10309, followed by 1.09606 and the 10-day EMA at 1.09561. These levels may offer a cushion if the pair pulls back from current highs.
To the upside, resistance is currently uncharted as EUR/USD pushes into new yearly territory. Traders may look to round psychological levels and Fibonacci extensions to identify the next potential resistance zones.
The EUR/USD remains firmly in bullish territory, with both technical indicators and price structure suggesting the path of least resistance is still higher. With momentum intact and support levels well established, the pair may continue its climb toward higher psychological barriers in the coming sessions.
