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EURUSD holds above 1.1500 as bulls struggle to break 1.1524
The pair has stayed above the 1.1500 support for a fourth straight day, but the rally is still capped near 1.1524 and needs a sustained move to confirm continuation.
EURUSD is holding a constructive near-term tone, staying above the 1.1500 level for the fourth consecutive day, even after a Monday pullback from a new highest since June 17. Action Forex said the latest move points to fading bullish momentum, with the daily chart also showing overbought stochastic conditions.
The same analysis noted that EURUSD has not yet secured a clear break above a key resistance area around 1.1524, a level aligned with a Fibonacci reference and also capped by a falling trendline near 1.1533. Another support guard sits at 1.1465, described as provided by the daily cloud base.
Action Forex added that continued bullish outlook depends on a sustained break of the 1.1524/33 pivots to validate the scenario and shift focus to higher barriers. It highlighted potential next targets at 1.1567 (100DMA), 1.1586 (daily cloud top), and 1.1627 (200DMA).