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EUR/USD: Bullish Momentum Faces Key Data Tests

February 13, 2026, 06:01 AM163 words7 sourcesAI-Generated · Reviewed by editorial team
EUR/USD
EUR/USD: Bullish Momentum Faces Key Data Tests

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The EUR/USD pair is exhibiting a generally bullish trend, with several analysts targeting a breakout above the 1.20 level. Scotiabank highlights improving yield spreads, recovering correlations, and a supportive technical backdrop, anticipating potential resistance at 1.20, 1.2080, and 1.22/1.2250. ING maintains a bullish outlook on EUR/GBP, expecting rate cuts from the Bank of England in March and June, which indirectly supports the Euro. However, recent gains have softened due to reduced expectations of near-term Federal Reserve rate cuts following a strong NFP report, decreasing March easing odds from 20% to 5%. Market focus is now shifting to upcoming economic data releases, including Eurozone GDP, US CPI inflation, and US Initial Jobless Claims. A weaker Eurozone GDP reading could pressure the pair lower. While the USD has struggled due to concerns surrounding trade policy and potential rate cuts, the EUR/USD remains above key EMAs (9-day and 50-day), indicating sustained bullish momentum. The pair recently snapped a two-day losing streak as the dollar lost traction.

Source Articles

This article is based on analysis of 7 source articles from our news database.

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