EUR/USD Eyes 1.1800 After Reclaiming Key MAs

On April 15, EUR/USD reclaimed its 50-, 100- and 200-day moving averages and traded just below the 1.1800 level. The euro has advanced since testing a multi-year pivot near 1.1450 earlier this year.

On the daily chart the three moving averages converge around 1.1670–1.1690. The daily relative strength index measured about 64.4. Technical reference points place the next resistance near 1.1867.

The four-hour chart shows a rising 50-period moving average and a recent golden cross. The pair cleared horizontal barriers at 1.1721 and 1.1769. The H4 RSI is around 70.5 and has flagged several “BEAR” pivot warnings.

The hourly chart is the near-term focus. Price is consolidating under 1.1800. A clean hourly close above 1.1800 would keep the intraday upside bias, with resistance at 1.1867 and then 1.2000. If the pair fails to clear 1.1800 and drops below the intraday pivot at 1.1780, support sits at 1.1769, followed by 1.1750 and 1.1726.

Market analyst Zain Vawda described the recent phase as a “bullish honeymoon” after the euro reclaimed its major daily moving averages and noted that shorter-term oscillators point to a likely temporary breather. Traders are watching hourly closes and momentum readings to gauge near-term direction.