EUR/USD Price Forecast: Remains above 1.1700 near 50-day EMA
The post EUR/USD Price Forecast: Remains above 1.1700 near 50-day EMA appeared on BitcoinEthereumNews.com. EUR/USD inches higher after three days of losses, trading around 1.1710 during the Asian hours on Thursday. The daily chart technical analysis indicates a potential for a bearish reversal as the pair is positioned on the lower boundary of the ascending channel pattern. The EUR/USD pair is holding just above the 50-day Exponential Moving average (EMA) but still capped by the nine-day EMA, which keeps the near-term tone broadly neutral with a slight bullish tilt. The price hovering between these averages suggests consolidation after recent gains, while the 14-day Relative Strength Index (RSI) around 50 hints at balanced momentum rather than a strongly directional move. On the upside, the primary barrier lies at the nine-day EMA of 1.1730, followed by the 12-week high of 1.1849, reached on April 17. A break above this level would support the pair to test the upper boundary of the asc