The EUR/USD pair has risen by over 0.32%, as traders are keeping an eye on the key psychological level of 1.1600. They are encountering significant resistance at the 100-day simple moving average (SMA) of 1.1567. Currently, the pair is trading at 1.1564, making a recovery from its daily low of 1.1526.
EUR/USD Price Prediction: Technical Outlook
The market structure for EUR/USD indicates that the downtrend is still in effect. Despite the presence of consecutive lows and decreasing highs, the chances for a “bullish reversal” appear to have grown since July 30, when it crossed back into the 1.1500 range.
The pair hits a peak near 1.1550-60, and the Relative Strength Index (RSI) hints at strengthening bullish momentum. If traders manage to surpass a crucial resistance, a shift to a bullish trend may unfold.
The next significant area to monitor is the 200-day SMA positioned at 1.1629. If that level is breached, the cycle high from May 29 at 1.1685 could be the following target. Clearing both levels might push EUR/USD towards 1.1700, with the April 17 high of 1.1849 coming into play before reaching 1.1900.
On the other hand, if the euro slips below 1.1500, it may drop to the 50-day SMA at 1.1465, with the next demand zone appearing around 1.1400.
EUR/USD Price Chart – Daily
This week’s euro price
The table below reflects the percentage change of the Euro (EUR) against major currencies this week, with the euro performing strongest against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.13% | -0.36% | 1.02% | -0.54% | -0.28% | 0.07% | 0.66% | |
| EUR | 0.13% | -0.24% | 1.11% | -0.52% | -0.22% | 0.10% | 0.69% | |
| GBP | 0.36% | 0.24% | 1.29% | -0.27% | 0.02% | 0.34% | 0.92% | |
| JPY | -1.02% | -1.11% | -1.29% | -1.24% | -0.95% | -0.77% | -0.15% | |
| CAD | 0.54% | 0.52% | 0.27% | 1.24% | 0.29% | 0.47% | 1.25% | |
| AUD | 0.28% | 0.22% | -0.02% | 0.95% | -0.29% | 0.32% | 0.88% | |
| NZD | -0.07% | -0.10% | -0.34% | 0.77% | -0.47% | -0.32% | 0.57% | |
| CHF | -0.66% | -0.69% | -0.92% | 0.15% | -1.25% | -0.88% | -0.57% |
The heat map illustrates the percentage change among major currencies, with the base currency chosen from the left column and the quote currency from the top row. For instance, selecting EUR from the left and USD along the top row shows the percentage change in the overlapping cell as the value of EUR against USD.
