- The EUR/USD rises to 1,0385 on Thursday, confirming a break over the 20 -day SMA.
- A sustained movement above 1,0400 could further strengthen the upward feeling, while the 20 -day SMA now acts as a support.
The EUR/USD continued its recovery on Thursday, going up to 1,0385 and reinforcing its breakdown above the simple mobile average (SMA) of 20 days. After several failed attempts to maintain earnings earlier, the pair now seems to have made a decisive movement, changing short -term bias in favor of buyers.
Technical readings highlight a growing bullish impulse. The Relative Force Index (RSI) has risen to 56, indicating a growing purchase pressure, while the histogram of the convergence/divergence of mobile socks (Macd) has increasing green bars, suggesting continuous force in the rise thrust . If this trend persists, the bulls could seek to extend profits even more.
From a structural perspective, 1,0450 emerges as the next key resistance level, and a break above this could open the door to 1,0500. Down, the 20 -day SMA, now acting as support, will be monitored closely, with any fall below 1,0350 potentially questioning the sustainability of the recent upward movement.
EUR/USD daily graphics
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
