EUR/USD Price Analysis: Bullish bias unchanged above 1.0540

Market news

12 January 2023

EUR/USD Price Analysis: Bullish bias unchanged above 1.0540

EUR/USD remains bid near the 1.0780 region on Thursday.
Extra gains likely above the immediate support line near 1.0540.

EUR/USD seems to have met solid resistance in the area of recent peaks around 1.0780.

In case bulls remain in control, the breakout of the January high at 1.0776 (January 11) could put the May 2022 top at 1.0786 (May 30) back on the radar ahead of the round level at 1.0800.

While above the short-term support line near 1.0540, the pair should maintain its bullish outlook.

In the longer run, the constructive view remains unchanged while above the 200-day SMA at 1.0308.

EUR/USD daily chart

Currencies. Daily history for Thursday, January 12, 2023

Commodities. Daily history for Wednesday, January 11, 2023

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