Analysis and trading strategies

EUR/USD Technical Analysis – May 6, 2025

Current Price: 1.1320
Market Tone: Consolidation with mild bearish pressure

Key Levels

• Resistance:

  • 1.1340 – Short-term cap; rejected several times

  • 1.1380 – 100-period SMA resistance

  • 1.1500 – Strong psychological and technical barrier

• Support:

  • 1.1300 – Immediate range support

  • 1.1215 – Key level to watch if breakdown continues

  • 1.1145 – 61.8% Fibonacci support

Technical Indicators

• RSI (4H): Around 50 – Neutral momentum

• MACD: Flat histogram – indicates lack of direction

• Moving Averages: Price trading near 20-SMA; 100-SMA resistance around 1.1380

Market Outlook

• EUR/USD remains range-bound between 1.1300 and 1.1340, showing indecision.

• US dollar strength from economic data is limiting euro gains.

• Break below 1.1300 could trigger deeper decline toward 1.1215.

• Upside potential only opens above 1.1340 with targets at 1.1380 and 1.1500.

Strategy

• Bearish bias below 1.1340; sell on rallies toward 1.1380

• Bullish outlook only confirmed above 1.1380 with targets toward 1.1500