Analysts see EUR/USD building upward momentum with support at 1.1405 and resistance near 1.1520 in the coming weeks.
EUR/USD climbed above prior resistance, reaching 1.1482, as momentum builds for a potential test of 1.1490. Analysts note the pair remains below significant resistance at 1.1520 but see scope for further gains in the near term.
Recent price action reversed earlier downward momentum, with the pair breaking above the 1.1405 support level. Over the next 1-3 weeks, upward pressure is expected to persist as long as 1.1405 holds, though a breach could ease immediate bullish sentiment.
Intraday support is seen at 1.1450, while a drop below 1.1435 may signal a temporary pullback in upward pressure.