ANZ Research discusses EUR/USD outlook for the coming week.

"Looking ahead, we remain constructive on EUR/USD, particularly as domestic fundamentals contrast with softer US data. However, we expect gains to be steadier rather than exponential after the recent rally. The pair remains above its 50-, 100- and 200-dmas, signalling underlying demand on dips. Momentum indicators, however, appear stretched, with the 14-day RSI at 74, firmly in overbought territory. While this does not negate the broader bullish trend, it suggests the pace of further appreciation may slow in the near week," ANZ notes.

"On the crosses, EUR/GBP remains attractive. Euro area growth data have continued to surprise positively, while expectations for additional BoE tightening remain more constrained. In the near term, we see the pair rising to 0.86with support at 0.856 (50-dma) and resistance at 0.862 (100-dma)," ANZ adds.