EUR/USD Eyes 1.0900 as Seasonal Patterns Favor Euro Strength

EUR/USD has risen 0.4% to 1.0865, supported by favorable seasonal trends that historically show euro strength in October. Analysis of 20-year seasonal patterns indicates the euro gains against the dollar in October 65% of the time, with an average appreciation of 0.8%. Current momentum aligns with these historical trends, as the pair broke above the 50-day moving average at 1.0840. Additional currency pairs showing seasonal strength include GBP/USD (+0.3% to 1.2745), while USD/JPY declined 0.5% to 149.30. AUD/USD also benefited from the seasonal dollar weakness, advancing 0.6% to 0.6520. Technical indicators suggest bullish momentum is building, with the MACD crossing above its signal line. The next resistance level sits at 1.0900, coinciding with the 61.8% Fibonacci retracement of the September decline. Traders should monitor upcoming Eurozone inflation data and US employment figures, which could either reinforce or challenge the seasonal pattern.