The EUR/USD pair has advanced to the vicinity of 1.1300 following a significant upward movement in the previous session. Technical indicators present a generally bullish outlook, albeit with some overbought signals. The Moving Average Convergence Divergence (MACD) currently indicates a buy signal, while the Relative Strength Index (RSI) suggests the asset is approaching overbought territory. Key Simple Moving Averages (SMAs) support the prevailing bullish trend, with potential support levels observed in the 1.1100-1.1110 range. The pair’s recent rally reflects renewed risk appetite and aims to test yearly highs, positioned between the 1.1187 and 1.1473 levels. While the RSI registers at 75.43, suggesting potential overextension, the Stochastic %K at 74.94 and the Awesome Oscillator at 0.03 remain neutral, indicating possible short-term stabilization. The 20-day SMA at 1.09102, 100-day SMA at 1.05556, and 200-day SMA at 1.07427 collectively reinforce the underlying upward pressure. Shorter-term averages, such as the 10-day EMA (1.10273) and 10-day SMA (1.09813), further corroborate the ongoing bullish momentum.
