EUR/USD Price Forecast: Climbs But Struggles At 1.0400

10 and one 10 us dollar bill

Image Source: Unsplash


The EUR/USD increased over 0.78%, boosted by an article in The Washington Post mentioning three US President-elect Trump aides and saying that tariffs will be applied, focusing on specific sectors. The pair trades at 1.0388, above its opening price.


EUR/USD Price Forecast: Technical outlook

The EUR/USD finished 2024 at around 1.0260, but since then, buyers have stepped in, pushing the exchange rate above 1.0300, hitting a four-day peak of 1.0436 after The Washington Post headline.

Momentum seems to favor buyers, though the Relative Strength Index (RSI), despite edging upwards, remains bearish.

If buyers want to push the EUR/USD higher, they need to decisively clear 1.0400, followed by 1.0500. If surpassed, the next resistance would be the 50-day Simple Moving Average (SMA) at 1.0558, followed by 1.0600.

On the other hand, if bears stepped in, keeping the major below 1.0400, this could exacerbate a pullback toward last year’s low of 1.0222. On further weakness, parity emerges as the next support level.


EUR/USD Price Chart – Daily

(Click on image to enlarge)


EURO PRICE TODAY

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).


More By This Author:

EUR/USD Price Forecast: Hovered Near 1.0500 Post-ECB Rate Cut
Gold Edges Lower On Rising US Yields, Still Eyes Weekly Gains
EUR/JPY Dips Further Below 159.50 Post ECB’s Rate Cut

Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with