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EUR/USD holds near 1.1450 after three-session push higher
The pair tested around 1.1460, helped by a less hawkish slide in the US Dollar tied to FOMC Minutes, while geopolitical uncertainty kept gains in check.
EUR/USD attracted buyers for a third straight session and pushed to a fresh weekly high near 1.1460 in Friday’s Asian trading, hovering close to the 1.1450 area. According to FXStreet, the US Dollar has been extending a move lower after the less hawkish tone linked to the latest FOMC Minutes, which acted as a tailwind for the euro. Still, persistent geopolitical uncertainties were cited as a factor limiting further USD losses and capping spot price strength.
Technically, FXStreet said EUR/USD has struggled to build on its advance beyond the 23.6% Fibonacci retracement level of the April to June decline. The recovery from the year-to-date low, it added, has formed an upward-sloping channel that now resembles a bearish flag, suggesting recent gains may remain corrective.
On levels to watch, FXStreet pointed to trend-channel support near 1.1400 as a key pivot. A convincing break below that area could expose deeper supports around 1.1327 to 1.1323, while resistance was identified near the 200-period EMA at 1.1491 and the channel top at 1.1494, with further upside targets at 1.1524 and 1.1586 if strength sustains.
Latest closeEUR/USD 1.147 ▲0.9%