- EUR/USD rises on Friday, settling at 1.0495 as it approaches the 20-day SMA.
- The RSI rises sharply to 44 but remains in negative territory, indicating improved momentum within a bearish context.
The EUR/USD pair managed a modest rebound on Friday, rising 0.2% to 1.0495 after testing new lows earlier in the week. The pair approached the 20-day SMA near 1.0550 but failed to break above it, keeping the short-term outlook tilted to the downside.
Technical indicators show signs of stabilization but remain generally bearish. The Relative Strength Index (RSI) has risen sharply to 44, reflecting improving momentum, although it remains in negative territory, indicating that the recovery lacks robust follow-through. Meanwhile, the Moving Average Convergence/Divergence (MACD) histogram continues to print declining green bars, signaling persistent bearish pressure despite daily gains.
For the bulls to regain control, EUR/USD must decisively reclaim the 20-day SMA, currently near 1.0550, to change the outlook to neutral or positive. Until then, the bearish bias remains intact, with immediate support at the psychological level of 1.0500, followed by 1.0480. Failure to stay above these levels could accelerate the decline.
EUR/USD Daily Chart
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.
