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Currencies EUR/USD

EUR/USD Forecast: Bullish Trend Goes On with 1.1400 as the Next Important Target

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  • April 28, 2025
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EUR/USD currency pair continues to be bullish as it holds firm near 1.1360 in the Asian session amid a strong technical position. The pair is comfortably above the 100-day Exponential Moving Average (EMA), with the Relative Strength Index (RSI) indicating sustained bullish momentum. The immediate overhead is at 1.1400, with scope for further upside towards 1.1547 and 1.1647. On the negative side, there is support at 1.1315, and a continued break below this may unlock the way for a pullback to 1.1000 or even 1.0888. With mixed signals on US-China trade relations, nonetheless, the bullish outlook for EUR/USD continues to hold in the near term. KEY LOOKOUTS •  The immediate upside target for EUR/USD is at the psychological level of 1.1400. A break above this level could set the stage for further rallies to 1.1547 and 1.1647. • The initial strong support to watch is 1.1315, the April 24 low. A strong and persistent move below this could indicate a possible fall to lower degrees, e.g., 1.1000. • EUR/USD continues to be supported by a solid bullish sentiment, with the currency trading above the important 100-day EMA and an RSI of 61.80, which shows sustained bullish momentum. • Uncertainty from mixed signals provided by the US and China regarding trade talks might engender volatility for the pair, and hence close attention needs to be paid to fresh information that can influence market sentiment. EUR/USD remains on a bullish outlook, with the pair maintaining ground around 1.1360, underpinned by a strong technical platform. The nearby resistance is located at 1.1400, and breaching this barrier may trigger the price to proceed higher towards 1.1547 and then 1.1647. On the down side, a first support in view is located at 1.1315, and its breach may alert for a downtrend towards 1.1000. The pair’s bullish bias is supported by the 100-day EMA and a positive RSI, which reflects continuous upward momentum. Nevertheless, market volatility may rise due to continued uncertainty over US-China trade relations, and it is therefore important to be vigilant for any news update that could shape market sentiment. EUR/USD has a positive outlook with support at 1.1315 and resistance at 1.1400. The bull run of the pair is complemented by a high RSI and the support of the 100-day EMA, despite possible volatility driven by US-China trade uncertainties. • EUR/USD has a positive bias and is favored by a sound technical setup. • Short-term target of the upside move is 1.1400, with extended potential to rise towards 1.1547 and 1.1647. • The initial crucial support level to monitor is 1.1315, and a probable decline to 1.1000 in the event of breaking this level. • The pair trades above the 100-day Exponential Moving Average (EMA), indicating ongoing bullish momentum. • The Relative Strength Index (RSI) above the midline at about 61.80 indicates continuing bullish momentum. • Ambiguity regarding US-China trade relations has the potential to cause market instability, affecting the price action of EUR/USD. • In case the bullish momentum keeps going, subsequent major resistance points are 1.1547 (April 22 high) and 1.1647 (upper Bollinger Band). EUR/USD is depicting strong bullishness as the market continues to perceive the outlook to be positive. The pair has the support of positive market sentiment,partly triggered by a fairly stable economic atmosphere in the Eurozone. Even as the currency pair has been strong, there exists some uncertainty surrounding the global economic situation, which is mainly being caused by confusing signals emanating from the US-China trade war. The trade tensions can make for some episodes of volatility but generally, there is a good sentiment for the euro against the dollar. EUR/USD Daily Price Chart Source: TradingView The persistent euro strength also has something to do with an absence of a major disruption of the Eurozone economy, where economic figures provide a stable background for the currency. At the same time, the US dollar is also facing some difficulty as the unpredictable nature of trade relations between China and the US clouds future prospects. As investors continue to observe these developments, the EUR/USD pair is set to stay in its existing bullish trend, although outside circumstances may cause short-term fluctuations. The general trend for EUR/USD is upward, and the market appears to be inclined towards the euro in the short term. TECHNICAL ANALYSIS EUR/USD is displaying a robust bullish inclination, bolstered by being above the significant 100-day Exponential Moving Average (EMA), confirming the upward motion to continue. The Relative Strength Index (RSI) is in positive ground and at 61.80, indicating buying pressure remains in place and the pair would be able to sustain its upward trend in the near term. The near-term resistance is at 1.1400, and if this level is breached, additional gains to 1.1547 and 1.1647 would be anticipated. On the downside, the initial support is at 1.1315, and a fall below this might indicate a reversal. Generally, the technical indicators are to the advantage of the euro, with robust support and bullish momentum driving the pair’s direction. FORECAST EUR/USD remains firmly in bullish sentiments, with the initial key resistance level at 1.1400. The breaking of this level may make way for increased gains, the next targets to the upside at 1.1547, April 22 high, and 1.1647, the top limit of the Bollinger Band. If there is sustained bearish momentum, these levels can serve as decisive markers, informing the market that the pair is likely to sustain its rising pattern in the ensuing sessions. To the downside, initial support for EUR/USD stands at 1.1315, which is the April 24 low. A prolonged slide below here would indicate a possible pullback towards the next support at 1.1000. Should selling pressure continue, the pair would be subject to further losses, with 1.0888, the April 8 low, standing out as a major target. Still, the pair is supported above these levels at present, containing the bearish scenario.

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Currencies NZD/USD

NZDUSD Price Forecast: Bearish Bias Remains Intact Stagnating Below 0.5900

NZDUSD Price Forecast: Bearish Bias Remains Intact Stagnating Below 0.5900 The New Zealand Dollar (NZD) against the US Dollar (USD) on Wednesday faces mounting downward pressure as it breaks its three-day winning streak and traded to around the 0.5890 level in the European session Wednesday. The NZD/USD pair sits in a descending channel, with further bearish bias looking possible unless strong reversal is seen. Pair shows weakness, especially below key 0.5900, and short-term momentum remains bearish. Bearish Momentum: NZD/USD in a Descending Channel From the daily NZD/USD chart, a bearish outlook seems to be of concern for the bullish traders because the chart seems to be moving in a downward trend within a well-defined descending channel. A bearish sentiment usually prevails when the market is entering a kind of downtrend, as the pair cannot keep its course upwards but falls backwards. In the case of NZD/USD, this kind of pattern grows clearer because, day by day, it remains trading below both nine-day and 14-day EMAs. Currently, the nine-day EMA sits below the 14-day EMA, which is an important short-term indicator of price momentum and displays persistent weakness in the market. This means that bearish control is most likely to continue until a strong catalyst forces a directional shift in sentiment. The Relative Strength Index (RSI) – the measure of the speed and change of price movements – is also sitting below the neutral 50 level. When the RSI is constantly under 50, it usually means the market tends to have a bearish look, which commensurate with current trends for NZD/USD. Resistance Levels: Immediate Hurdles for NZD/USD Resistance levels for NZD/USD, however, are found in the immediate upside. The first level of key resistance is currently sitting at 0.5907, at the nine-day EMA. This represents the zone that sellers will be keenly watching for as a potential turning point. A break back above the nine-day EMA would be a marked shift in sentiment, though as of now, the pair sits below this resistance, which continues to support the bearish view. Above the nine-day EMA, the next level of resistance is at the 14-day EMA, which stands at 0.5926. This is a more important resistance level since it coincides with the upper boundary of the descending channel. From the breakout above the 14-day EMA and the upper boundary of the channel, the bearish momentum could be weakening, allowing the pair to further advance toward higher levels, even reaching the psychological level 0.6000. Given the current bearish momentum, however, such a breakout seems less likely over the short run unless something fundamental in market sentiment were to shift. NZD/USD Daily Price Chart Source: TradingView, prepared by Richard Miles Levels of Support : 0.5850 and the Lower Boundary of the Channel On the downside, the NZD/USD pair is facing potential support around the 0.5850 level, which represents a psychological level for the pair. If the price continues to slide lower, this support zone will be critical in determining whether the bearish trend will extend further. If the price breaks below 0.5850, the next level of support is likely to be the lower boundary of the descending channel, which is found around the 0.5930 region. The zone is of high importance situated around 0.5850 as it is a throwback support zone – a term used to describe a price zone where the market had previously shown support or resistance. If the NZD/USD pair can remain above the 0.5850 zone, it might be a good place for a reversal or at least a consolidation. On the other hand, if the price breaks decisively below that level, it would endorse the bearish view and push the pair down even further. Downside Risk: Testing the Two-Year Low at 0.5772 If the NZD/USD fails to maintain strength above 0.5850 and breaks below the lower boundary of its falling channel, critical support will be found at the two-year low at 0.5772. It reached the level last in November 2023, and this will be a signal for another decline in the value of the Kiwi versus the US Dollar, should the pair continue to the mentioned level. Such a move towards this level would squeeze the bearish sentiment and thus attract more selling pressure with further declines. Traders will be keenly watching how the price reacts to the lower boundary of the channel and the 0.5850 support. A break below these levels could potentially accelerate the decline and bring the pair closer to the two-year low of 0.5772. On the other hand, a failure to break below these levels might indicate a temporary consolidation, but the overall market sentiment would remain cautious and bearish. What Could Reverse the Bearish Trend? While the current outlook for NZD/USD remains bearish, it’s essential to consider potential catalysts that could reverse the trend. For instance, if there were a significant shift in market sentiment towards riskier assets or a sudden change in global economic conditions, it could provide support for the New Zealand Dollar. Positive economic data from New Zealand or a change in the US Federal Reserve’s policy stance could also impact the NZD/USD pair. Furthermore, if the pair breaks above the nine-day and 14-day EMAs, it could signal that the bears are losing control, allowing for a move higher. This scenario however, looks unlikely to come to pass without a significant fundamental trigger, as the current market sentiment is on further weakness for the Kiwi. What to Expect for NZD/USD Short-term view: The outlook for NZD/USD remains bearish, but the price was unable to stay above the key level of 0.5900. The pattern of the descending channel suggests further downside, with the support areas around 0.5850 and the lower boundary of the channel being areas to watch. A break below these levels would further solidify a strong bearish case, with a view toward reaching the two-year low of 0.5772. On the positive side, two important barriers that one needs to watch are resistance levels at the nine-day EMA (0.5907) and at the

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