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EUR/USD Poised For Upside Break As Buying Pressure Builds

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Aayush Jindal

Key Highlights

  • EUR/USD stayed above 1.1675 and might attempt another increase.
  • A bullish trend line is forming with support at 1.1750 on the 4-hour chart.
  • GBP/USD seems to be consolidating gains above 1.3520.
  • Bitcoin remains supported and might aim for a move above $82,000.

EUR/USD Technical Analysis

The Euro found support near 1.1675 against the US Dollar. EUR/USD started a fresh increase above the 1.1700 and 1.1720 resistance levels.

Looking at the 4-hour chart, the pair settled above the 1.1750 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). However, the bears are still active near the 1.1800 zone.

A high was formed at 1.1796, and the pair is now consolidating gains above 1.1750. There is also a bullish trend line forming with support at 1.1750 on the same chart.

On the upside, the pair faces resistance at 1.1780. The first major resistance sits at 1.1800. The main resistance could be 1.1840. A close above 1.1840 could open doors for gains above 1.1880. In the stated case, the bulls could aim for a move to 1.1950.

Immediate support is seen at 1.1750. The next support could be 1.1720. A close below 1.1720 might push the pair toward 1.1675. Any more losses could initiate a fresh move to 1.1550 in the coming days.

Looking at GBP/USD, the pair is showing positive signs, and the bulls could aim for a move above the 1.3650 resistance.

Upcoming Key Economic Events:

  • US Existing Home Sales for April 2026 (MoM) - Forecast -1.1%, versus -3.6% previous.
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