EUR/USD Price Analysis: Edges toward 1.0830 as bullish momentum builds post-Europe

EUR/USD extended its upward trajectory on Friday, moving near the 1.0830 region after the European session and toward the upper end of the day’s trading range. The pair has gained traction, reflecting investor appetite for the euro despite mixed short-term signals. Technicals reveal an ongoing bullish backdrop, underpinned by supportive moving averages, though caution remains as oscillators flash neutral-to-negative cues.

Momentum indicators are mixed. The short-term Relative Strength Index is neutral at 5.91, and when combined with the Stochastic indicator, it confirms a lack of clear directional drive. The Moving Average Convergence Divergence (MACD) flashes a sell signal, while the longer-term RSI (14) sits at around 57. The Bull Bear Power also remains marginally negative, suggesting slight hesitation despite recent gains.

However, the moving averages paint a more optimistic picture. The 20-day Simple Moving Average (SMA) at 1.0791, the 100-day at 1.0518, and the 200-day at 1.0729 all signal buy conditions, reinforcing the prevailing bullish structure. Additional support from the 30-day Exponential Moving Average (1.0709) and SMA (1.0682) further strengthens this view.

On the downside, support levels are located at 1.0810, 1.0791, and 1.0785. Resistance is found near 1.0845, a key area that, if breached, could open the door for an extended move higher. While bullish conditions persist, traders may need to navigate choppy signals from oscillators as the pair consolidates gains.

EUR/USD daily chart