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EUR/USD is trading at 1.1643, attempting to stabilize after a recent rebound from the 1.1500–1.1520 support area. The pair has climbed back above both the 15-day and 20-day simple moving averages, which are now converging—suggesting a possible shift from bearish to neutral momentum.
Key Technical Observations
- Price has reclaimed the moving average zone after bouncing from key short-term support.
- The recovery stalled near 1.1700, which remains an important resistance and previous pivot area.
- The convergence of the moving averages shows the market is in transition, but a decisive breakout is still lacking.
Key Levels to Watch
- Immediate Resistance: 1.1700, then 1.1750
- Breakout Resistance: 1.1800
- Support: 1.1575 (moving average zone back-test), then 1.1500
- Major Downside Target (NYSE:TGT): 1.1360 if selling resumes
Bias: Neutral with Bullish Potential
If EUR/USD can sustain closes above 1.1700, it would strengthen bullish sentiment and open the path to 1.1750–1.1800. Failure to break higher, however, could see the pair drift back toward 1.1575–1.1500, especially if the dollar regains strength.
This is a pivotal zone—either a breakout higher or a fade from resistance will define next week’s directional bias.