- EUR/USD advances on Friday, marking a solid recovery to 1.0485.
- Technical indicators point to strengthening momentum, with the pair approaching short-term resistance.
- The focus shifts to whether buyers can maintain traction above the 1.0500 psychological level.
The EUR/USD pair ended the week on a bullish note, rising 0.66% to settle at 1.0485 on Friday. This move signals a continuation of its recovery, following a recent consolidation within a relatively tight trading range. The pair’s ability to maintain bullish pressure highlights growing buyer confidence as it approaches key resistance levels.
Technical readings reflect the strengthening of the bullish bias. The Relative Strength Index (RSI) has risen to 62, well into positive territory and rising sharply, indicating robust buying interest and room for further gains. Meanwhile, the Moving Average Convergence/Divergence (MACD) histogram is printing ascending green bars, confirming the growing bullish momentum and underlining the increased demand.
For the immediate perspective, the 1.0500 mark will act as a fundamental resistance, with a decisive break above it opening the door to the next target at 1.0530. To the downside, support lies at 1.0450, followed by the 1.0420 level, which could serve as a safety net if selling pressure reappears. Traders will closely watch these levels to assess the pair’s ability to maintain its bullish trajectory.
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.
