EUR/USD – The bigger uptrend stays safe while the price stays above 1.1274
EUR/USD gained early Thursday, indicating renewed strength from the broader bullish trend after a two-day pullback from the recent four-year high at 1.1573 found solid support near the 1.1300 area.
The near-term outlook remains strongly bullish as long as the pair holds above the key Fibonacci support at 1.1274 (61.8% retracement of the 1.2349–0.9535 move), which has turned into firm support following two failed attempts to break lower last week.
Daily technical indicators are aligning in favor of bulls, with rising momentum and moving averages in a bullish configuration.
A confirmed break above 1.1440 (Wednesday’s high and 50% retracement of the 1.1573–1.1307 pullback) would reinforce the bullish structure and suggest the broader uptrend is set to resume.
A push through the key psychological level at 1.1500 would strengthen bullish signals, opening the way for a retest of the 1.1573 high. A break above this level would expose the next target at 1.1685 (76.4% Fibonacci retracement).
On the downside, a break below 1.1274 would weaken the bullish outlook and risk a deeper correction.
Resistance levels: 1.1405, 1.1440, 1.1500, 1.1573
Support levels: 1.1307, 1.1274, 1.1200, 1.1146
