Key Moments
- EUR/USD trades around 1.1660 and has fallen for three consecutive sessions after slipping below an ascending channel.
- The pair remains capped beneath the 50-day EMA at 1.1678 and the nine-day EMA at 1.1700, with the 14-day RSI near 48 signaling fading bullish momentum.
- On the downside, price action may revisit the eight-month low at 1.1411, while a sustained recovery above the channel would expose 1.1849, 1.1940, and 1.2082.
Technical Outlook for EUR/USD
EUR/USD extends its decline for a third straight session, changing hands near 1.1660 during Asian trading on Thursday. Price action on the daily chart points to a possible bearish reversal after the pair fell out of an ascending channel, undermining the prior constructive setup.
The exchange rate is currently trading just below both the 50-day Exponential Moving Average (EMA) and the nine-day EMA, signaling that upside attempts remain constrained despite a prior bounce from lower levels. This configuration keeps the near-term tone restrained as long as the pair holds under these moving averages.
The 14-day Relative Strength Index (RSI) hovers around 48, indicating that bullish momentum is losing steam and that the market is leaning toward consolidation. This momentum profile supports the view that rallies may encounter selling pressure while EUR/USD trades beneath these key dynamic resistance levels.
Key Support and Resistance Levels
On the downside, EUR/USD may gravitate toward the region of the eight-month low at 1.1411, which was posted on March 13. A move toward this area would reinforce the emerging bearish tone implied by the break below the ascending channel.
Immediate resistance is located at the 50-day EMA, currently near 1.1678, followed by the nine-day EMA around 1.1700. A decisive recovery that pushes the pair back into the ascending channel would restore a bullish bias and open the way for a retest of the two-month high at 1.1849, marked on April 17.
Above that, attention would turn to the upper boundary of the ascending channel around 1.1940. A sustained breakout beyond this upper band would shift focus to the region near 1.2082, identified as the highest level since June 2021 and recorded on January 27.
EUR/USD: Daily Chart
(The technical analysis of this story was written with the help of an AI tool.)
Euro Performance Against Major Currencies Today
The table below shows the Euro’s percentage changes against a range of major currencies today. According to these figures, the Euro has been the weakest versus the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.09% | 0.01% | -0.03% | -0.05% | -0.14% | -0.07% | -0.00% | |
| EUR | -0.09% | -0.05% | -0.13% | -0.14% | -0.21% | -0.14% | -0.07% | |
| GBP | -0.01% | 0.05% | -0.04% | -0.07% | -0.15% | -0.05% | -0.02% | |
| JPY | 0.03% | 0.13% | 0.04% | -0.03% | -0.10% | -0.09% | -0.00% | |
| CAD | 0.05% | 0.14% | 0.07% | 0.03% | -0.10% | -0.04% | 0.05% | |
| AUD | 0.14% | 0.21% | 0.15% | 0.10% | 0.10% | 0.07% | 0.15% | |
| NZD | 0.07% | 0.14% | 0.05% | 0.09% | 0.04% | -0.07% | 0.07% | |
| CHF | 0.00% | 0.07% | 0.02% | 0.00% | -0.05% | -0.15% | -0.07% |
The heat map above represents the percentage moves between major currencies. The base currency is taken from the left-hand column and the quote currency from the top row. For example, selecting the Euro in the left column and the US Dollar along the top shows the percentage change for EUR (base)/USD (quote) in the corresponding cell.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
