The euro continues its sharp ascent, breaking convincingly above key resistance at 1.1200 and now eyeing the 78.6% Fibonacci retracement near 1.1745. Momentum remains firmly bullish:
🚀 Price has surged through both the 50- and 200-day SMAs
📈 MACD is accelerating higher, showing strong bullish momentum
📊 RSI is nearing overbought territory at 74.92, but not diverging yet
As long as EUR/USD holds above 1.1200, the path of least resistance may remain higher. However, traders should watch for signs of exhaustion near the 1.17 area, a key technical confluence that could slow the rally.
-MW
🚀 Price has surged through both the 50- and 200-day SMAs
📈 MACD is accelerating higher, showing strong bullish momentum
📊 RSI is nearing overbought territory at 74.92, but not diverging yet
As long as EUR/USD holds above 1.1200, the path of least resistance may remain higher. However, traders should watch for signs of exhaustion near the 1.17 area, a key technical confluence that could slow the rally.
-MW
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