The upward impulse indicates that the EUR/USD could maintain its bullish bias; It is premature to expect a new test of the maximum of 1,1573, reports the FX analyst of UOB Group, to be Leang.
EUR/USD still tries to advance
“Our previous update of the day of approximately two weeks ago, on May 9, 2025, when the EUR/USD was in 1,1225, states:” In the daily chart, the EUR/USD fell slightly below the support zone of 1,1215/1,1225 yesterday (baseline of the Ichimoku cloud, the maximum of last September and a line of ascending trend), suggesting that 1.1573 It could be an interim maximum. The rupture of the daily key support zone could open the way for a deeper corrective setback towards the 55 -day EMA, currently in 1,1050. On the positive side, 1,1400 is a strong level of short -term resistance, ahead of 1,1573. “
“Shortly after our update, the EUR/USD fell and tested the 55 -day EMA, reaching a minimum of 1,1064. From the minimum, the EUR/USD has been moving forward. The daily MACD is increasing, indicating a bullish impulse in improvement, although for now it remains in negative territory. Although the impulse in improvement suggests that the EUR/USD could maintain its current bundle, it seems premature Test of 1,1573, much less a sustained rupture above this level. “
“The current bullish bias will remain intact while the EUR/USD is maintained above the 55 -day EMA. In the short term, ahead of the 55 -day EMA, there is a remarkable support level in 1,1200. On the positive side, if there is a decisive rupture above 1,1435, then the probability that the EUR/USD re -tests 1,1573 will increase.”
Source: Fx Street
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