EUR/USD: Break Above 1.10 Strengthens Bullish Outlook, Limited Pullbacks Expected

EUR/USD maintains a strong tone at the start of the week, extending gains above the key 1.10 psychological level after closing above it last week for the first time since late December.

Bulls also cleared the 1.1012 Fibonacci resistance (76.4% retracement of the 1.1139 to 1.0601 decline), reinforcing the bullish outlook.

The focus now shifts to the falling 200-week moving average (1.1063), where a break would signal further upside, paving the way for a push above 1.1100 and a test of December’s peak at 1.1139.

Daily chart technicals remain firmly bullish, but overbought conditions and weakening momentum on the weekly chart suggest growing resistance as the pair approaches the 200WMA.

The 1.10 pivot has turned into strong support, and deeper pullbacks should find stability above the rising 10-day moving average (1.0965) to keep the bullish trend intact and offer better re-entry levels for long positions.

Res: 1.1050; 1.1063; 1.1100; 1.1139
Sup: 1.1021; 1.1000; 1.0965; 1.0933