EUR/USD Holds Firm Near 1.1500, Faces Key Resistance
The EUR/USD pair continued its upward move and is now close to the 1.1500 mark. This is the fourth day in a row that the euro has gained strength against the US dollar. The pair is trading inside a rising price channel, which means buyers are still in control.
Right now, the price is testing an important technical level — the nine-day Exponential Moving Average (EMA). This line often acts as a short-term barrier. If the price manages to move above it, it could signal more gains ahead. The 14-day Relative Strength Index (RSI) is also above 50, which shows that buying pressure is still strong.
However, if the pair fails to break above this EMA, there could be a pullback. In that case, the lower part of the rising channel might act as support and stop the fall.
There is no major economic news expected today, but global factors, like tensions in the Middle East and changes in risk sentiment, could affect the US dollar. If markets feel more confident, the euro might get stronger. But if uncertainty rises, investors may prefer the safety of the dollar, which can put pressure on the euro.
Impact:
EUR/USD might break above the EMA and move higher if confidence stays strong. But if global risks rise, the pair could face downside pressure.