EUR/USD Price Forecast: Holds losses below 1.1850 near nine-day EMA barrier

EUR/USD extends its losses for the second successive session, trading around 1.1840 during the early European hours on Tuesday. The 14-day Relative Strength Index (RSI) momentum indicator at 53 (neutral) signals consolidation with a modest upside lean.

The technical analysis of the daily chart shows that the EUR/USD pair holds above the rising 50-day EMA, while the nine-day EMA flattens just overhead. The short-term average remains above the medium-term gauge, keeping the near-term bias supported.

The immediate resistance lies at the psychological level of 1.1850, aligned with the nine-day EMA at 1.1856. Traction above the short-term average would underpin momentum and keep focus on resistance aligning at 1.2082, the highest level since June 2021.

Should the pair fail to clear the cited ceiling at short-term average, price would stay rangebound and vulnerable to pullbacks toward the 50-day EMA at 1.1773 and shift focus to deeper supports toward the two-month low at 1.1578, recorded on January 19.