EUR/USD PRICE FORECAST: GATHERS STRENGTH ABOVE 1.1350, BULLISH BIAS REMAINS
EUR/USD PRICE FORECAST: GATHERS STRENGTH ABOVE 1.1350, BULLISH BIAS REMAINS
The EUR/USD currency pair has recently shown bullish momentum, trading above the 1.1350 level during the early European session on Friday.
EUR/USD is trading around 1.1370, indicating a strengthening of the Euro against the US Dollar.
The pair maintains a positive outlook above this key moving average, suggesting continued bullish momentum.
The RSI is above the midline, indicating bullish momentum in the near term.
The first upside target is at 1.1450, the high of March 18.
A decisive break above this level could lead to a rally towards 1.1500.
The low of March 7 at 1.1250 acts as an initial support level.
Key Support Zone: Sustained trading below the 1.1200 zone could see a drop to 1.1150.
Markets are anticipating a 25 basis points rate cut by the Fed, which has weakened the US Dollar and provided support to EUR/USD.
Expectations for a trade deal between the US and the European Union have bolstered investor confidence in the Euro.
