EUR/USD Edges Higher, Eyeing Key Resistance to Confirm Reversal

EUR/USD inched higher during Asian and early European trading on Thursday, suggesting that the pullback from Monday’s spike high of 1.1009 may be coming to an end.

The formation of a higher base around the 1.0900 zone supports a positive near-term outlook, as daily technical studies remain largely bullish. However, a sustained break above the 1.0950/60 zone is needed to confirm this bullish bias.

On the downside, weakening hourly studies indicate that recovery attempts may encounter resistance near the 1.0950 pivot (the hourly cloud top and 50% retracement of the 1.1009 to 1.0892 pullback).

Failure to clear this level could leave the pair vulnerable, especially if the 1.0925 pivot (the hourly cloud base and Kijun-sen) is lost, which would increase the risk of retesting 1.0900 and potentially trigger a deeper pullback.

Res: 1.0950; 1.0965; 1.0981; 1.1000
Sup: 1.0925; 1.0890; 1.0875; 1.0850