Key Highlights
- EUR/USD found support at 1.1765 and corrected some losses.
- A key bullish trend line is forming with support at 1.1850 on the 4-hour chart.
- GBP/USD is consolidating above the 1.3600 support.
- Gold prices could resume upside if there is a move above $5,150.
EUR/USD Technical Analysis
The Euro dipped below 1.1800 against the US Dollar before the bulls appeared. EUR/USD found support near 1.1765 and recently started a recovery wave.
Looking at the 4-hour chart, the pair climbed above 1.1800 and the 38.2% Fib retracement level of the downward move from the 1.2082 swing high to the 1.1765 low. The pair even settled above the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour).
On the upside, the pair is now facing hurdles near 1.1920 and the 50% Fib retracement level of the downward move from the 1.2082 swing high to the 1.1765 low.
The next stop for the bulls might be 1.1960. A close above 1.1960 could open the doors for more gains. In the stated case, the bulls could aim for a move to 1.2000 or even 1.2050. The main resistance sits near 1.2080.
Immediate support could be 1.1850 and the trend line. The first major area for the bulls might be near 1.1800. The main support sits at 1.1765, below which the pair might gain bearish momentum. In the stated case, it could even revisit 1.1660.
Looking at GBP/USD, the pair is slowly moving higher from 1.3520 but faces hurdles near 1.3680 and 1.3720.
Upcoming Key Economic Events:
- Euro Zone Industrial Production for Dec 2025 (MoM) – Forecast -1.5%, versus +0.7% previous.
