EUR/USD Price Analysis: Trades around 1.0250 after rebounding from 26-month lows
- EUR/USD may struggle as it is confined within a descending channel pattern.
- The 14-day RSI moves above the 30 level, suggesting a recovery from oversold territory.
- The immediate resistance appears at a nine-day EMA of 1.0290 level.
The EUR/USD pair halts its five-day losing streak, trading around 1.0250 during Tuesday's Asian session. A closer look at the daily chart suggests a continued bearish trend, with the pair moving lower within a descending channel pattern.
The 14-day Relative Strength Index (RSI), a key momentum indicator, has risen above the 30 level, suggesting a recovery from oversold conditions. However, the EUR/USD pair remains below both the nine- and 14-day Exponential Moving Averages (EMAs), pointing to weaker short-term momentum and reinforcing the overall bearish outlook.
On the downside, the EUR/USD pair may revisit its 26-month low at 1.0177, recorded on January 14. A break below this level would lead the pair to test the psychological support level at 1.0000, followed by the lower boundary of the descending channel at 0.9890. A decisive break below this level could strengthen the bearish bias, potentially pushing the pair lower to 0.9730, the lowest point since November 2022.
The EUR/USD pair could encounter primary resistance near the nine-day Exponential Moving Average (EMA) at 1.0290, followed by the 14-day EMA at 1.0318. A breakout above these levels could target the upper boundary of the descending channel at 1.0400, with further gains possibly reaching the two-month high of 1.0630, seen on December 6.
EUR/USD: Daily Chart
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.30% | -0.24% | -0.02% | -0.13% | -0.39% | -0.71% | -0.24% | |
| EUR | 0.30% | 0.06% | 0.26% | 0.18% | -0.09% | -0.40% | 0.07% | |
| GBP | 0.24% | -0.06% | 0.21% | 0.12% | -0.15% | -0.46% | 0.01% | |
| JPY | 0.02% | -0.26% | -0.21% | -0.10% | -0.37% | -0.70% | -0.22% | |
| CAD | 0.13% | -0.18% | -0.12% | 0.10% | -0.27% | -0.58% | -0.11% | |
| AUD | 0.39% | 0.09% | 0.15% | 0.37% | 0.27% | -0.31% | 0.13% | |
| NZD | 0.71% | 0.40% | 0.46% | 0.70% | 0.58% | 0.31% | 0.48% | |
| CHF | 0.24% | -0.07% | -0.01% | 0.22% | 0.11% | -0.13% | -0.48% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
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