EUR/USD pushes higher to around 1.1635 in Wednesday’s Asian session, with the euro drawing support from growing confidence that the European Central Bank (ECB) has concluded its rate-cut cycle. ECB President Christine Lagarde said last week that borrowing costs are now at the “right level,” reinforcing expectations of a prolonged pause.
ECB outlook underpins euro
Bloomberg surveys indicate that the ECB is widely expected to keep its deposit rate unchanged at 2.0% this month, with most analysts forecasting no policy changes through 2026. The steady-rate outlook helps bolster EUR resilience against a softer US Dollar (USD).
Traders now look ahead to Wednesday’s US ADP Employment Change and ISM Services PMI, which will offer fresh insight into the health of the US labor market and broader economic conditions.
Chart analysis EUR/USD
EUR/USD trades near 1.1635 on the daily chart, holding comfortably above the 100-EMA at 1.1578, which has begun to turn higher – a sign that the recovery trend is gaining traction. Bollinger Bands have tightened, and price is hovering just below the upper band, indicating sustained bullish pressure amid low volatility.
Immediate resistance is located at the upper Bollinger Band at 1.1652. A daily close above this level would trigger band expansion and open the door for a continuation toward higher highs.
Initial support appears at the middle band near 1.1580, with stronger downside protection at the lower band around 1.1507. The RSI at 58.9 remains comfortably above the 50 midpoint, confirming strengthening upside momentum.
The near-term bias stays firmly bullish while EUR/USD trades above the 100-EMA, and any dips into the mid-band region are likely to attract fresh buyers.
