Technical analysis of EUR/USD 04/18/2025
The EUR/USD currency pair at (1W) moved from correction to an uptrend.
The pair has confidently broken above the 1.1200 level, which coincides with the 61.8% Fibonacci retracement from the long-term downtrend. Currently, the price is trading above this area — around 1.1370 — indicating a continuation of the bullish momentum.
A consolidation above 1.1370 may open the way toward the next target around 1.2240 (100% Fibonacci and a key resistance level), within the broader ascending channel (marked by red trendlines).
Support is found near the 1.1200 zone (61.8% Fibonacci), followed by the 1.1000 level (50% Fibonacci), which is also strengthened by the 50 and 200-period moving averages acting as dynamic support.
The RSI indicator is in the overbought zone (above 70), which may suggest a short-term correction before further upside movement.
Created by Joshua Hayn
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