Technical analysis of EUR/USD 06/12/2025

The EUR/USD currency pair on the daily timeframe (1D) remains in a strong uptrend.

After a short-term correction, the price rebounded from 1.1060, which corresponds to the 38.2% Fibonacci retracement level — a key support zone that triggered the latest bullish wave. The pair confidently broke above 1.1100 and continues to move within an ascending channel.

The current price is 1.1518, approaching 1.1570, which marks the yearly high and serves as the nearest major resistance. A breakout above this level could open the way toward the next targets in the 1.1700–1.1800 range.

Support levels are aligned with key Fibonacci retracements:
— 1.1260 — 23.6% Fibonacci, the first potential pullback zone
— 1.1060 — 38.2% Fibonacci, confirmed as the base for the latest rally
— Below that, 1.0880 (50% Fibo) and 1.0700 (61.8%) may act as deeper supports if correction intensifies

The 100-day and 200-day moving averages are sloping upward and remain below the price, supporting the bullish structure.
RSI is at 63.4, indicating strong momentum without entering the overbought zone. A short pause is possible, but the overall trend remains upward.

Created by Joshua Hayn