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EUR/USD Strengthens Further, Bulls Eye Continued Upside

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Aayush Jindal

Key Highlights

  • EUR/USD started a fresh increase above 1.1650.
  • It cleared a key contracting triangle with resistance at 1.1610 on the 4-hour chart.
  • GBP/USD could extend gains if it settles above 1.3500.
  • WTI Crude Oil prices are again moving higher toward $112.

EUR/USD Technical Analysis

The Euro remained supported above 1.1500 against the US Dollar. EUR/USD gained bullish momentum for a move above 1.1620 and 1.1650.

Looking at the 4-hour chart, the pair settled above the 1.1665 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). There was a clear move above a key contracting triangle with resistance at 1.1610.

The pair tested the 1.1740 zone. If the bulls remain in action, they could aim for a move toward the 1.1780 level. The first major resistance sits at 1.1800.

The main resistance could be 1.1840. A close above 1.1840 could open the doors for gains above 1.1920. In the stated case, the bulls could aim for a move to 1.2000.

Immediate support is seen near 1.1685 or the 23.6% Fib retracement level of the upward move from the 1.1505 swing low to the 1.1739 high. The first key support sits at 1.1620. The next key area of interest might be near 1.1600 and the 200 simple moving average (green, 4-hour).

A close below 1.1600 might push the pair toward the 100 simple moving average (red, 4-hour). Any more losses could initiate a fresh move to 1.1500.

Looking at Oil, the price remained supported above $92 and again trying to clear the $110-$112 resistance zone.

Upcoming Key Economic Events:

  • US Existing Home Sales for March 2026 (MoM) - Forecast -0.1%, versus +1.7% previous.
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