- May 1, 2026
- Posted by: EWGFX
- Category: Technical analysis
EUR/USD UPDATE
EUR/USD remains supported and edges higher toward the 1.1750 level after posting strong gains on Thursday.
The European Central Bank (ECB) kept its policy settings unchanged, though policymakers are reportedly considering a rate hike in June if oil prices remain elevated amid the continued closure of the Strait of Hormuz.
At the same time, weaker-than-expected US GDP data continues to pressure the US Dollar lower during today’s session, providing additional support for EUR/USD.
Technical Outlook
The bullish trend structure is strengthening as EMA 34 crosses above EMA 89 and EMA 200, turning higher.
Meanwhile, EUR/USD is consolidating around the 1.1722 level and is expected to maintain its upward momentum toward the 1.1780 resistance zone today.
Nearest Resistance: 1.1780
Nearest Support: 1.1722
Bias Today: BULLISH