EUR/USD: Down 0.28% to 1.1520 — Ascending Channel
· Forex · MarketsFN Team
EUR/USD: Down 0.28% to 1.1520 — Ascending Channel
Published: August 06, 2026 · MarketsFN Team · US Session
| Pair | Rate | Change | RSI(14) | SMA-20 | SMA-50 | 52W High | 52W Low | Pivot | R1 | S1 |
|---|---|---|---|---|---|---|---|---|---|---|
| EUR/USD | 1.1520 | -0.28% | 61.3 | 1.1445 | 1.1473 | 1.2041 | 1.1358 | 1.1546 | 1.1565 | 1.1532 |
📊 Support & Resistance Levels
Dynamic Trendlines
| Level | Type | Direction | Distance |
|---|---|---|---|
| 1.1357 | 20d Support | → flat | -1.42% / 163.3 pips |
| 1.1576 | 20d Resistance | ↗ ascending | +0.48% / 55.6 pips |
| 1.1347 | 50d Support | → flat | -1.50% / 173.3 pips |
| 1.1559 | 50d Resistance | ↘ descending | +0.34% / 39.0 pips |
Static Levels
| Level | Type | Touches | Distance |
|---|---|---|---|
| 1.1779 | Resistance | 2× | +2.25% / 258.7 pips |
| 1.1729 | Resistance | 2× | +1.81% / 208.5 pips |
| 1.1668 | Resistance | 2× | +1.28% / 147.4 pips |
| 1.1505 | Support | 2× | -0.13% / 14.7 pips |
| 1.1444 | Support | 2× | -0.66% / 76.4 pips |
EUR/USD is trading at 1.1520 (-0.28%) as the market experiences a slight pullback from the previous close of 1.1552. The price remains above both the 20-day simple moving average (SMA) at 1.1445 and the 50-day SMA at 1.1473, indicating an overall uptrend. The dynamic channel is characterized by an ascending 20-day resistance trendline at 1.1576, which is 55.6 pips above the current rate, and a flat 20-day support trendline at 1.1357, positioned 163.3 pips below.
In terms of static levels, the closest support level is S1 at 1.1505, just 14.7 pips away, while the nearest resistance level is R1 at 1.1565, 4.5 pips above the current price. The RSI(14) at 61.3 suggests that the market is in neutral territory, indicating that there is still room for upward momentum without being overbought.
Looking ahead, the short-term outlook remains cautiously optimistic as the price is still within an ascending channel. However, the market may be underpricing the potential for a breakout above the dynamic resistance at 1.1576. A decisive move above this level could signal a stronger bullish trend, while a drop below S1 at 1.1505 would raise concerns about a reversal. Traders should watch for any significant economic data releases or geopolitical developments that could impact the euro or dollar, as these could serve as catalysts for volatility in the near term.
Disclaimer
The content on MarketsFN.com is provided for educational and informational purposes only and does not constitute financial advice. All investments involve risk and past performance does not guarantee future results.