The EUR/USD currency pair has shown interesting movements recently, marking its first positive week after a consistent downtrend since late November. This development has caught the attention of forex traders and those monitoring exchange rates, including individuals interested in understanding how much their Euros are worth in US Dollars, for example, when considering conversions like 7 Euros To Usd.
EUR/USD Bounces Back from Key Support
Euro bulls have faced headwinds since the final quarter of last year, particularly in the preceding six weeks leading up to this recent shift. Before this week’s green candle, the EUR/USD had not seen a positive weekly close since late November. The previous upward movement peaked in early December at the 1.0611 Fibonacci level, coinciding with the Non-Farm Payrolls (NFP) release that month. Subsequently, a significant sell-off ensued, continuing until the beginning of this week when the pair encountered a crucial support level on Monday.
The 1.0200 level represents a significant Fibonacci retracement, specifically the 23.6% level of the major 2021-2022 move. Interestingly, the 61.8% retracement from the same move acted as resistance in 2023, while the 38.2% level provided support during the first half of the previous year. This 1.0200 price point also served as resistance in December before sellers initiated a strong downward push, culminating in the test of the 23.6% marker earlier this week. For anyone looking at currency conversion, understanding these levels can be insightful, as they reflect broader market sentiment affecting exchange rates like 7 euros to usd.
EUR/USD Weekly Price Chart
Chart prepared by James Stanley, EUR/USD on Tradingview
Short-Term EUR/USD Dynamics
While the bounce from the 1.0200 support level indicates a potential shift, selling pressure hasn’t completely disappeared. Bears are still defending the previous support level around 1.0344. However, a notable observation is the series of higher lows established each day last week after the Monday test of 1.0200. This pattern suggests weakening bearish momentum, which could potentially pave the way for a trend reversal. It’s important to remember that reduced selling pressure near lows doesn’t automatically guarantee a reversal. For a true turnaround, we would need to see sellers actively retreat, which hasn’t occurred definitively yet.
Analyzing the daily chart reveals key levels that could signal a change in market direction. The psychological level of 1.0300 remains crucial, and above that, the 1.0344 level is significant. Should buyers manage to break through 1.0344, the next major resistance to watch is the 1.0406 Fibonacci level. This level previously acted as resistance on January 6th and 7th, halting bullish attempts before the subsequent sell-off that eventually tested the 1.0200 support last week. These technical levels are relevant for traders and anyone tracking the Euro to USD exchange rate, as they indicate potential price fluctuations that impact conversions, whether you’re converting 7 euros to usd or larger amounts.
EUR/USD Daily Chart
Chart prepared by James Stanley, EUR/USD on Tradingview
EUR/JPY Analysis
In contrast to EUR/USD, the EUR/JPY pair experienced further selling pressure last week, reaching a new monthly low and testing below the 160.00 level.
Given expectations for continued interest rate cuts by the European Central Bank (ECB), the weakness in EUR/JPY is understandable, especially as we approach a Bank of Japan (BOJ) rate decision. As previously noted, EUR/JPY and GBP/JPY might offer more compelling opportunities for Yen strength compared to USD/JPY. This perspective remains relevant for the coming week, as EUR/JPY has consistently shown lower lows and highs throughout 2025.
Looking at resistance levels for EUR/JPY, the 161.44 Fibonacci level and the prior price action swing at 162.04 could act as potential lower highs, stemming from the previous week’s swing high.
Below the 160.00 level, the 158.66 Fibonacci level provides the next support, followed by the trendline connecting the August and September swing lows.
EUR/JPY Daily Price Chart
Chart prepared by James Stanley, EUR/JPY on Tradingview
EUR/GBP Analysis
The EUR/GBP pair, often characterized by lower volatility, has shown signs of breakout potential recently. The .8401 level has been tested, but buyers haven’t yet managed a decisive break above it. Attention was previously drawn to the .8448 level, which marked previous highs in October.
This .8448 price level came into play on Tuesday and Wednesday, and after a pullback, buyers initiated another bounce, bringing the price back to this level again on Friday.
Currently, buyers appear to maintain control, with recent price action showing a higher high and a higher low. However, the next resistance zone around the .8500 psychological level, confluent with the .8512 Fibonacci level, could pose a significant challenge for further upward movement.
EUR/GBP Daily Chart
Chart prepared by James Stanley, EUR/GBP on Tradingview
— written by James Stanley, Senior Strategist
