Key Highlights
- EUR/USD remained in a positive zone and traded above 1.1700.
- A key bullish trend line is forming with support at 1.1705 on the 4-hour chart.
- Bitcoin gained bullish momentum and climbed above $116,000.
- USD/JPY is consolidating below the 148.20 resistance zone.
EUR/USD Technical Analysis
The Euro started a fresh increase above 1.1700 against the US Dollar. EUR/USD cleared 1.1750, tested 1.1780, and recently corrected some gains.
Looking at the 4-hour chart, the pair remained supported and settled above the 1.1700 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). It is again rising with a move above the 50% Fib retracement level of the downward move from the 1.1779 swing high to the 1.1658 low.
On the upside, the pair could face resistance near the 1.1750 level or the 76.4% Fib retracement. The first major hurdle for the bulls could be 1.1780. A close above 1.1780 could set the pace for another increase.
In the stated case, the pair could rise toward 1.1850, above which the bulls could aim for a move toward 1.1880. Any more upsides could send the pair toward 1.1920.
On the downside, immediate support is 1.1700. There is also a key bullish trend line forming with support at 1.1705. The next key area of interest might be near 1.1680 and the 100 simple moving average (red, 4-hour).
Looking at Bitcoin, the bulls remained in action and they were able to push the price above the $116,000 resistance zone.
Upcoming Key Economic Events:
- NY Empire State Manufacturing Index for Sep 2025 – Forecast 2, versus 11.9 previous.
- ECB’s President Lagarde speech.
