EUR/USD Price Analysis: Euro climbs toward 1.1100 as bullish bias strengthens

• EUR/USD trades near the 1.1000 zone after rising sharply during Wednesday's session.
• Technical indicators lean bullish overall, although short-term momentum remains balanced.
• Support seen near the 1.0920-1.1000 range, with key moving averages reinforcing the uptrend.

The EUR/USD pair extended its gains on Wednesday, moving higher after the European session and climbing toward the 1.1100 area. The pair sits above the midpoint of its daily range, buoyed by renewed bullish momentum, despite some neutral short-term indicators. Today's rise further supports the broader bullish outlook, which has been reinforced by strong moving average signals and a MACD buy trigger.

Daily chart

Momentum indicators are showing mixed but improving dynamics. The Relative Strength Index (RSI) stands at 65.40, indicating the pair is approaching overbought territory but not yet signaling exhaustion. Meanwhile, the Moving Average Convergence Divergence (MACD) is producing a buy signal, supporting continued upward momentum. However, both the Williams Percent Range (−25.08) and Bull Bear Power (0.02349) remain neutral, hinting that buyers are in control but not yet dominant.

The bullish outlook is clearly reflected in the trend-based indicators. The 20-day Simple Moving Average (SMA) at 1.08745, 100-day SMA at 1.05425, and 200-day SMA at 1.07381 all point upward, aligning with the current direction. The 10-day EMA and 10-day SMA, at 1.09225 and 1.08995 respectively, also support a continuation of the bullish momentum.

On the downside, support is located at 1.10025, followed by a key zone around 1.09225-1.09223. No major resistance levels have been confirmed yet above the recent highs, leaving room for potential continuation should buying pressure persist.