EUR/USD Forecast: Bulls Test Nine-Day EMA at 1.1490 Amid Uptrend Momentum

EUR/USD Forecast: Bulls Eye Breakout at 1.1490 Resistance

The EUR/USD pair sustains its four-day winning streak in Monday’s Asian session, trading just below the 1.1500 psychological mark. The bullish tone is supported by technical indicators, particularly the 14-day Relative Strength Index (RSI) which remains above the 50-neutral level, suggesting positive momentum.

Technical Outlook: RSI Signals Upside, EMA Resistance in Focus

The daily chart shows the pair moving in a rising channel, highlighting an uptrend. Currently, EUR/USD is testing the nine-day Exponential Moving Average (EMA) around 1.1494, which serves as near-term resistance.

• Immediate resistance: 1.1494 (9-day EMA)
• Key breakout level: 1.1631 (multi-month peak from June 12)
• Channel top target: 1.1730
• Support to watch: 1.1420 (channel lower bound)

A confirmed breakout above 1.1494 could trigger a push toward the 2021 October highs around 1.1631 and possibly beyond.

Momentum vs Short-Term Weakness

While the RSI supports further gains, the current price hovering slightly below the nine-day EMA shows that short-term momentum is not yet conclusive. Traders should watch for confirmation via a daily close above 1.1494 to validate the bullish continuation.

Internal Linking Suggestions (for Tredu.com):

• Live EUR/USD Chart
• Learn How to Use RSI in Forex Trading
• Understanding EMA and Trend Reversals
• Forex Forecast: What to Watch This Week