EUR/USD Price Forecast: Remains below nine-day EMA near 1.1550

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EUR/USD remains subdued for the second successive day, trading around 1.1540 during Asian hours on Friday. The daily chart technical analysis indicates a potential bullish reversal as the pair is testing the upper boundary of the descending channel pattern.

EUR/USD may fall toward the initial support at the eight-month low of 1.1411.
The 14-day Relative Strength Index near 45 signals subdued momentum.
The pair tests the immediate barrier at the upper descending channel boundary near the nine-day EMA at 1.1544.

However, the near-term bias stays mildly bearish as price holds below both the nine-day and 50-day Exponential Moving Averages (EMAs), which cap recovery attempts and confirm a prevailing downside tone. The short-term average trades under the longer one and flattens, signalling a lack of bullish follow-through after recent rebounds.

The 14-day Relative Strength Index (RSI) momentum indicator around 45 keeps momentum on the soft side, showing sellers retain a slight advantage without reaching oversold extremes.

The EUR/USD pair may navigate the region around the initial support at the eight-month low of 1.1411, recorded on March 13. Further declines would put downward pressure on the pair to test the descending channel around 1.1250.

On the upside, the EUR/USD pair is testing the immediate resistance at the upper descending channel boundary around the nine-day EMA at 1.1544. A break above the channel would strengthen the market bias and support the pair to test the 50-day EMA at 1.1637. Further advances would open the doors for the pair to explore the region around 1.2082, the highest since June 2021, which was recorded on January 27.

(The technical analysis of this story was written with the help of an AI tool.)

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.04%	-0.06%	-0.05%	0.03%	-0.07%	0.15%	-0.02%
EUR	-0.04%		-0.05%	-0.07%	-0.01%	0.02%	0.10%	-0.05%
GBP	0.06%	0.05%		0.00%	0.06%	0.10%	0.17%	0.00%
JPY	0.05%	0.07%	0.00%		0.06%	0.08%	0.17%	-0.00%
CAD	-0.03%	0.00%	-0.06%	-0.06%		0.03%	0.12%	-0.04%
AUD	0.07%	-0.02%	-0.10%	-0.08%	-0.03%		0.08%	-0.08%
NZD	-0.15%	-0.10%	-0.17%	-0.17%	-0.12%	-0.08%		-0.17%
CHF	0.02%	0.05%	-0.00%	0.00%	0.04%	0.08%	0.17%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).