Technical Analysis – EURUSD exits short-range area

EUR/USD gains strength above 1.1560. Currently targets 200-SMA as technical signals favor the bulls. Risk: A drop below 1.1560 invalidates the bullish scenario.
XM Group | 21 days ago

Overview: EUR/USD is making another attempt to break above the 1.1560 barrier, which has kept the bulls on the sidelines throughout August. With the pair gaining strength above the 2026 resistance trendline and its 20- and 50-day SMAs, there is potential for further upside in the near term.

Momentum: The RSI, the stochastic oscillator, and the MACD are detecting increasing buying appetite, pointing to constructive session ahead.

Bullish scenario: The bulls are currently targeting the 200-day SMA at 1.1625. An extension above this region could pave the way toward the 1.1685 resistance from May 29 and the 50% Fibo near 1.1700.

Risk: A dip back below 1.1560 may generate fresh selling pressure.

 

XM Group
Type: Market Maker
Regulation: FSA (Seychelles), FSC (British Virgin Islands), CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa), FSC (Mauritius), CMA (Kenya)
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