EUR/USD Price Forecast: Edges above 1.1600 near six-week lows
EUR/USD holds ground after three days of losses, trading around 1.1610 during the Asian hours on Friday. The 14-day Relative Strength Index (RSI) momentum indicator, currently at 35 (neutral-bearish), shows momentum skewed to the downside.
The technical analysis of the daily chart shows that the EUR/USD pair holds below the nine-day Exponential Moving Average (EMA) and the 50-day EMA, underscoring a bearish bias. The short-term average slopes lower beneath the medium-term gauge, capping rebounds.
The bias remains bearish while the EUR/USD pair stays below the short-term average, with downside risks focused on support near the six-week low at 1.1589, set on December 1. A sustained break below this level would open the door to the next support around 1.1468, the lowest since August 2025.
On the upside, the EUR/USD pair could target the initial resistance at the nine-and 50-day EMAs of 1.1648 and at 1.1673, respectively. Recovery through short- and medium-term averages would ease pressure and allow a test of the three-month high of 1.1808, which was recorded on December 24, followed by the 1.1918, the highest level since June 2021.
(The technical analysis of this story was written with the help of an AI tool.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A merger between Rio and Glencore would reshape the landscape of the worldwide mining industry
EUR/USD strengthens as investors return to the ‘Sell America’ strategy
GBP/USD gathers strength to near 1.3400 on Trump’s tariff threats
HBAR Selling Pressure at its Highest in 2026, Will Long Traders Face Liquidation
