- EUR/USD may maintain its bullish momentum, with a possible return to the ascending channel.
- The pair may find key resistance near a four-month high at 1.0922.
- The nine-day EMA at 1.0883 is acting as immediate support.
EUR/USD is advancing for the second consecutive day, trading around 1.0900 during the Asian session on Tuesday. The daily chart analysis shows a weakening of an uptrend, as the pair is positioned below an ascending channel.
Moreover, the 14-day Relative Strength Index (RSI), a momentum indicator, is above the 50 level, which further reaffirms the bullish sentiment for the EUR/USD pair. A further move will give a clear directional trend.
The EUR/USD pair could retest potential resistance near a four-month high of 1.0922, seen on July 15, followed by the lower boundary of the ascending channel around the level of 1.0940.
A return to the ascending channel will enhance the bullish bias and support the EUR/USD pair to approach the psychological level of 1.1000, followed by the upper boundary of the ascending channel near 1.1100.
On the downside, the nine-day exponential moving average (EMA) at the level of 1.0883 acts as an immediate support. A break below this level could put downward pressure on the EUR/USD pair to navigate the region around the key level of 1.0670, potentially serving as a retracement support level.
EUR/USD: Daily Chart
Euro PRICE Today
The table below shows the exchange rate of the Euro (EUR) against major currencies today. The Euro was the strongest currency against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.03% | 0.02% | -0.47% | 0.03% | 0.08% | 0.17% | -0.05% | |
| EUR | 0.03% | 0.05% | -0.43% | 0.05% | 0.09% | 0.17% | -0.03% | |
| GBP | -0.02% | -0.05% | -0.46% | 0.01% | 0.07% | 0.14% | -0.08% | |
| JPY | 0.47% | 0.43% | 0.46% | 0.49% | 0.53% | 0.60% | 0.37% | |
| CAD | -0.03% | -0.05% | -0.01% | -0.49% | 0.05% | 0.11% | -0.09% | |
| AUD | -0.08% | -0.09% | -0.07% | -0.53% | -0.05% | 0.08% | -0.15% | |
| NZD | -0.17% | -0.17% | -0.14% | -0.60% | -0.11% | -0.08% | -0.22% | |
| CHF | 0.05% | 0.03% | 0.08% | -0.37% | 0.09% | 0.15% | 0.22% |
The heatmap shows percentage changes of major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the chart will represent the EUR (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
