EUR/USD: Bulls need to clear 50-DMA for sustained momentum – OCBC

FXStreetJan 22, 2025 9:06 AM

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Euro (EUR) held on to recent gains as fear of universal tariff takes a back seat. EUR was last at 1.0421 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.

Break out 1.0440 exposes the pair to 1.05

“Daily momentum is mild bullish but rise in RSI moderated. Some consolidation is likely for now in absence of catalyst. Immediate resistance at 1.0440 (50 DMA). Break out exposes the pair to 1.05, 1.0570 levels (38.2% fibo retracement of Sep high to Jan low). Support at 1.0340 (21 DMA), 1.0240, 1.02 (recent low).”

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