The EUR/USD Pair: A Bullish Recovery
- EUR/USD advances on Friday, reaching 1.0485.
- Technical indicators suggest strengthening momentum.
- Focus on maintaining traction above the 1.0500 psychological level.
As the trading week came to a close, the EUR/USD pair showed bullish tendencies, rising by 0.66% to settle at 1.0485 on Friday. This upward movement indicates a continued recovery from recent consolidation, signaling increased buyer confidence as it nears crucial resistance levels.
Technical Analysis:
Technical indicators point to a strengthening bullish bias. The Relative Strength Index (RSI) stands at 62, well into positive territory and rising, indicating strong buying interest and potential for further gains. The Moving Average Convergence Divergence (MACD) histogram shows rising green bars, confirming upward momentum and heightened demand.
Key Levels to Watch:
- Resistance: 1.0500 – A break above could lead to a target at 1.0530.
- Support: 1.0450, 1.0420 – Providing a safety net if selling pressure returns.
Traders will closely monitor these levels to gauge the pair’s ability to sustain its current bullish trajectory.
EUR/USD Daily Chart
