The post Bulls extend control as EUR/USD breaks above 1.1100 appeared on BitcoinEthereumNews.com.

EUR/USD trades near the 1.1100 zone after strong gains on Thursday’s session following the European close. Despite overbought RSI and a sell MACD, moving averages and bullish momentum back the upward trend. Support stands near 1.0903 and 1.0861, while 1.1145 may act as a short-term ceiling. EUR/USD saw a sharp rally on Thursday, climbing strongly and settling near the 1.1100 area after the European session. The pair posted solid intraday gains, driven by continued bullish momentum, pushing it toward the upper half of its wide daily range. While some oscillators flash cautionary signals, the moving average setup reinforces the bullish trend heading into the Asian session. The technical landscape continues to favor the bulls. The Relative Strength Index (RSI) surged to 72.32, indicating overbought conditions, while the Moving Average Convergence Divergence (MACD) prints a sell signal, hinting at potential exhaustion. However, other momentum tools, such as the Williams Percent Range at -18.88 and Momentum at 0.022, offer a mixed to bullish view. Price action remains well supported by a strong alignment of key moving averages. The 20-day Simple Moving Average (SMA) at 1.0855, 100-day at 1.0526, and 200-day at 1.0733 are all signaling buy. Likewise, the short-term 10-day Exponential Moving Average (EMA) at 1.0861 and 10-day SMA at 1.0829 add to the bullish case, with price trading well above all of them. Support levels to watch lie at 1.0903, 1.0866, and 1.0861. On the upside, the recent session high at 1.1145 stands as immediate resistance. If that level is breached, it could pave the way for fresh bullish continuation.   Source: https://www.fxstreet.com/news/eur-usd-price-analysis-bulls-extend-control-as-eur-usd-breaks-above-11100-202504031637

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Filed under: News - @ April 3, 2025 5:28 pm