EUR/USD price climbs to $1.1804 as bullish momentum extends into fifth session
EUR/USD presses higher into resistance as bullish structure holds above key moving averages
The euro is holding firm at the start of July, with EUR/USD trading near 1.1804 after notching its fifth consecutive daily advance. This rally marks a continuation of the upside breakout from June’s falling wedge formation, with the pair now at its highest level since March.
Highlights
- EUR/USD trades near 1.1804, extending rally into a fifth straight session
- Price remains above all major EMAs; support zones seen near 1.1735 and 1.1660
- Break above 1.1850 could extend move to 1.19; downside risk rises below 1.17
As bullish momentum builds, traders are watching to see whether the recent gains can carry the pair through its next major resistance near 1.1880.
Price structure supports continuation higher
The daily and 4-hour charts show consistent higher highs and higher lows, confirming the prevailing bullish structure. The 4-hour timeframe reflects strong alignment above the 20-, 50-, and 100-period EMAs, while price presses against the upper Bollinger Band. Key horizontal resistance levels at 1.1550 and 1.1650 have flipped to support, reinforcing the broader trend. Immediate dynamic support now rests near 1.1735, with a deeper cushion seen around 1.1660.
EUR/USD price dynamics (Source: TradingView)
If momentum carries EUR/USD beyond the 1.1830–1.1850 region, the next upside target lies near 1.19—a level that previously triggered a major pullback in February. Until then, the pair remains vulnerable to short-term consolidation as it tests this critical resistance.
Indicators and trend tools still favor bulls
Momentum indicators remain constructive. On lower timeframes, RSI holds above 57, off recent peaks near 70, while MACD remains positive with no crossover in sight. This suggests buyer control is intact, albeit with a cooling pace. Meanwhile, the Supertrend and Parabolic SAR both continue to print bullish signals on the 4-hour chart, with the Supertrend baseline offering support near 1.1704.
In prior coverage, EUR/USD was highlighted for its falling wedge breakout and resilience above 1.1650. With that structure now extended, the pair’s behavior around the 1.1850 level will determine whether July begins with another breakout or a healthy retest of prior support.
