EURUSD trending higher after technical breakout
The 20-day moving average is acting as support on the climb: Chart
Share this:
The US Dollar was bearish against all of its major pairs on Thursday. On the US economic data front, Housing Starts rose to 1,547K on month in November (1,535K expected), from a revised 1,528K in October. Initial Jobless Claims increased to 885K for the week ending December 12th (818K expected), from a revised 862K in the week before. Finally, Continuing Claims fell to 5,508K for the week ending December 5th (5,700K expected), from a revised 5,781K in the prior week.
On Friday, the Leading Index for November is expected to rise 0.5% on month, compared to +0.7% in October.
The Euro was bullish against most of its major pairs with the exception of the AUD. In the U.K., the Bank of England decided to keep its key interest rate unchanged at 0.100%. The size of its asset purchase program remains unchanged at 895 billion pounds. Also, November Eurozone consumer price index final reading has been confirmed at -0.3% on month as expected.
The Australian dollar was bullish against all of its major pairs.
Looking at movers, the EUR/USD gained around 67 pips in Thursday's trading making it the top performing pair against the majors. The pair looks to be back in a well-established uptrend after breaking above a consolidation zone in place since August. Key resistance at the 1.2265 level has been broken to the upside. The next major target resistance levels are 1.2415 and 1.2535 in extension. A break below the 20-day moving average would be a bearish warning signal. Key support can be seen at the breakout level of 1.202.
Source: GAIN Capital, TradingView
On Friday, the Leading Index for November is expected to rise 0.5% on month, compared to +0.7% in October.
The Euro was bullish against most of its major pairs with the exception of the AUD. In the U.K., the Bank of England decided to keep its key interest rate unchanged at 0.100%. The size of its asset purchase program remains unchanged at 895 billion pounds. Also, November Eurozone consumer price index final reading has been confirmed at -0.3% on month as expected.
The Australian dollar was bullish against all of its major pairs.
Looking at movers, the EUR/USD gained around 67 pips in Thursday's trading making it the top performing pair against the majors. The pair looks to be back in a well-established uptrend after breaking above a consolidation zone in place since August. Key resistance at the 1.2265 level has been broken to the upside. The next major target resistance levels are 1.2415 and 1.2535 in extension. A break below the 20-day moving average would be a bearish warning signal. Key support can be seen at the breakout level of 1.202.
Source: GAIN Capital, TradingView
The US Dollar was bearish against all of its major pairs on Thursday. On the US economic data front, Housing Starts rose to 1,547K on month in November (1,535K expected), from a revised 1,528K in October. Initial Jobless Claims increased to 885K for the week ending December 12th (818K expected), from a revised 862K in the week before. Finally, Continuing Claims fell to 5,508K for the week ending December 5th (5,700K expected), from a revised 5,781K in the prior week.
On Friday, the Leading Index for November is expected to rise 0.5% on month, compared to +0.7% in October.
The Euro was bullish against most of its major pairs with the exception of the AUD. In the U.K., the Bank of England decided to keep its key interest rate unchanged at 0.100%. The size of its asset purchase program remains unchanged at 895 billion pounds. Also, November Eurozone consumer price index final reading has been confirmed at -0.3% on month as expected.
The Australian dollar was bullish against all of its major pairs.
Looking at movers, the EUR/USD gained around 67 pips in Thursday's trading making it the top performing pair against the majors. The pair looks to be back in a well-established uptrend after breaking above a consolidation zone in place since August. Key resistance at the 1.2265 level has been broken to the upside. The next major target resistance levels are 1.2415 and 1.2535 in extension. A break below the 20-day moving average would be a bearish warning signal. Key support can be seen at the breakout level of 1.202.
Source: GAIN Capital, TradingView
On Friday, the Leading Index for November is expected to rise 0.5% on month, compared to +0.7% in October.
The Euro was bullish against most of its major pairs with the exception of the AUD. In the U.K., the Bank of England decided to keep its key interest rate unchanged at 0.100%. The size of its asset purchase program remains unchanged at 895 billion pounds. Also, November Eurozone consumer price index final reading has been confirmed at -0.3% on month as expected.
The Australian dollar was bullish against all of its major pairs.
Looking at movers, the EUR/USD gained around 67 pips in Thursday's trading making it the top performing pair against the majors. The pair looks to be back in a well-established uptrend after breaking above a consolidation zone in place since August. Key resistance at the 1.2265 level has been broken to the upside. The next major target resistance levels are 1.2415 and 1.2535 in extension. A break below the 20-day moving average would be a bearish warning signal. Key support can be seen at the breakout level of 1.202.
Source: GAIN Capital, TradingView
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
EUR/USD weekly outlook: Oil, inflation and NFP in focus
After coming under significant pressure in recent weeks, the EUR/USD came off its lows to finish the week on a positive note on Friday, albeit with only a mild rebound. That was not enough to prevent the exchange rate falling for the third consecutive week, as the US dollar and bond yields rallied across the board.
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
USD/JPY Q4 2026 Outlook: Hawkish Fed Pricing Clashes With Intervention Risk
The year-end tug-of-war is clear: hawkish Fed pricing supports USD/JPY, while intervention risk limits the upside.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.