EUR/USD Advances amid Bullish Technical Pattern – Analysis (16 Oct 2025)

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EUR/USD extended its intraday gains, breaking through the key resistance level at 1.1630 — the neckline of a short-term bullish double bottom pattern. This breakout was supported by a move above the EMA50, which helped ease previous bearish pressure and restore upward momentum.

The return of positive signals from the relative strength indicators — following a reset from overbought conditions — further supports the potential for continued upside. This opens the path for EUR/USD to target additional resistance levels in the near term.

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