Select Language

EUR/USD Price Forecast: Next upside barrier emerges near 1.1450

Breaking news

EUR/USD Price Forecast: Next upside barrier emerges near 1.1450

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.06.02 14:54
EUR/USD Price Forecast: Next upside barrier emerges near 1.1450

update 2025.06.02 14:54

  • EUR/USD gains ground to near 1.1370 in Monday's early European session, up 0.25% on the day. 
  • The positive view of the pair prevails above the key 100-day EMA with the bullish RSI indicator. 
  • The first upside barrier is seen at 1.1445; the initial support level is located at 1.1283.

The EUR/USD pair attracts some buyers to around 1.1370 during the early European session on Monday. The US Dollar (USD) weakens against the Euro (EUR) amid the renewed trade war tensions. US President Donald Trump said on Friday that he planned to double import tariffs on steel and aluminum to build up pressure on global steel producers and intensify the trade war. 

According to the daily chart, the bullish outlook of EUR/USD remains intact, characterized by the price holding above the key 100-day Exponential Moving Average (EMA). The upward momentum is supported by the 14-day Relative Strength Index (RSI), which stands above the midline near 57.25, suggesting the path of least resistance is to the upside. 

The immediate resistance level emerges at 1.1445, the upper boundary of the Bollinger Band. Further north, the next hurdle is located at 1.1574, the high of April 21, followed by the 1.1600 psychological mark. 

The low of May 28 at 1.1283 acts as an initial support level for a major pair. The next downside target to watch is 1.1110, the lower limit of the Bollinger Band. A breach of this level could see a drop to the key contention level at 1.1000, representing the round figure and the 100-day EMA. 

EUR/USD daily chart

Euro FAQs

The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).

The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB's primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates - or the expectation of higher rates - will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.

Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB's 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.

Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone's economy.

Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.



 

EUR/USD daily chart


Date

Created

 : 2025.06.02

Update

Last updated

 : 2025.06.02

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

WTI consolidates around mid-$62.00s; looks to US NFP for fresh impetus

West Texas Intermediate (WTI) US Crude Oil prices oscillate in a narrow band, around mid-$62.00s during the Asian session on Friday, and remain on track to register gains for the first time in three weeks.
New
update2025.06.06 11:54

Japanese Yen continues to decline after weaker Household Spending data

The Japanese Yen (JPY) drifts lower for the second consecutive day on Friday in reaction to the disappointing release of Japan's Household Spending data.
New
update2025.06.06 11:42

EUR/USD holds losses near 1.1450 after retreating from two-month highs

EUR/USD continues to lose ground after pulling back from a two-month high of 1.1495, marked on June 5, currently trading around 1.1440 during the Asian hours on Friday.
New
update2025.06.06 11:35

Australian Dollar extends gains as sentiment improves following a Trump-Xi phone call

The Australian Dollar (AUD) advances against the US Dollar (USD) on Friday, extending its winning streak for the third successive day. Traders await the upcoming US Nonfarm Payrolls (NFP) report, due later in the day, seeking fresh insights into the United States (US) economy.
New
update2025.06.06 10:34

PBOC sets USD/CNY reference rate at 7.1845 vs. 7.1865 previous

The People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1845 as compared to the previous day's fix of 7.1865 and 7.1935 Reuters estimate.
New
update2025.06.06 10:17

Japan's Kato: Monetary policy decision is up to BoJ

Japan's Finance Minister Katsunobu Kato, when asked about the US Treasury report on exchange rate, said that the monetary policy decision is up to the Bank of Japan.
New
update2025.06.06 09:54

GBP/USD continues to find fresh highs as Greenback withers

GBP/USD tested its highest bids in over three years on Thursday, briefly climbing above the 1.3600 handle in intraday trading for the first time in 40 months.
New
update2025.06.06 08:06

NZD/JPY Price Forecast: Climbs on eased US-China tensions

NZD/JPY climbed over 0.75% on Thursday amid a session that witnessed an escalation of the Trump-Musk fight on social media, which ultimately sent Testla (TSLA) stocks plunging over 14% during the day.
New
update2025.06.06 07:38

AUD/JPY Price Forecast: Rallies above 93.00 on risk appetite, as bullish engulfing pattern looms

The AUD/JPY prolonged its gains on Thursday and edged up over 0.76% amid a risk-on impulse sparked by news that the US and China might reach an agreement as President Trump spoke with China's President Xi Jinping during the day. At the time of writing the cross-pair trades at 93.30.
New
update2025.06.06 07:09

Canadian Dollar continues to gain ground, but momentum is fizzling

The Canadian Dollar (CAD) tested fresh eight-month peaks against the US Dollar (USD) on Thursday.
New
update2025.06.06 05:02

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel