EURUSD 4-hour chart technicals
The EURUSD continues to show bullish momentum after finding support near 1.08725, a key swing area (see red numbered levels on the 4-hour chart above) in trading today. The pair also based in the early US session off the 100-hour MA at 1.0884 (see blue line on the hourly chart below).
The pair has since moved higher, reinforcing buyer control in the short term. This bias higher also aligns with last week’s low, which held above the 61.8% retracement of the decline from the September 2024 high at 1.08174, confirming bullish resilience.
If the upside momentum continues, the next key target is the swing area between 1.0936 and 1.09543. A break above this zone could further strengthen the bullish bias and open the door for additional gains. However, failure to hold above the 100 hour MA and the 1.08725 swing level, could see a retest of lower support levels, with the 200 hour MA (see green line on the hourly chart below at 1.0852) and the swing broken 61.8% of the move down from September 2024 high at 1.08174 area as support target.
Overall, the technical outlook remains positive as long as the pair holds above support, with buyers targeting higher levels in the near term.
EURUSD technicals on the hourly chart