EUR/USD Technical Analysis March 24, 2025
Current Price Levels and Technical Indicators:
As of 8:00 AM GMT on March 24, 2025, the EUR/USD pair is trading around 1.0815, showing signs of recovery after recent declines. The 14-day Relative Strength Index (RSI) stands near 59.35, indicating bullish momentum. The pair remains above the 100-day Exponential Moving Average (EMA), reinforcing a positive outlook.
Support and Resistance Levels:
Immediate resistance is observed at 1.0955, the high from March 18. A break above this level could target the psychological barrier at 1.1000. On the downside, initial support lies at 1.0775, with a more significant level at 1.0605, aligning with the 100-day EMA.
Fundamental Factors:
The US dollar faces pressure due to concerns over economic slowdown linked to current trade policies. Upcoming preliminary Purchasing Managers Index (PMI) data for March from the Eurozone, Germany, and the US, scheduled for later today, may influence market sentiment and impact the EUR/USD pair.
Conclusion:
The EUR/USD pair exhibits a bullish bias above the 1.0800 level, supported by technical indicators and current price action. Traders should monitor key support and resistance levels and stay attentive to forthcoming economic data releases that could influence market dynamics.
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