EUR/USD advances on Friday, marking a solid recovery to src.0485.
Technical indicators point to strengthening momentum, with the pair nearing short-term resistance.
Focus shifts to whether buyers can maintain traction above the src.0500 psychological level.
The EUR/USD pair ended the week on a bullish note, climbing 0.66% to settle at src.0485 on Friday. This move signals a continuation of its recovery, following recent consolidation within a relatively narrow trading range. The pair’s ability to maintain upward pressure highlights growing buyer confidence as it approaches key resistance levels.
Technical readings reflect the strengthening bullish bias. The Relative Strength Index (RSI) has surged 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 rising green bars, confirming growing upward momentum and underscoring increased demand.
For the immediate outlook, the src.0500 mark will act as a pivotal resistance, with a decisive break above it opening the door to the next target at src.0530. On the downside, support rests at src.0450, followed by the src.0420 level, which could serve as a safety net if selling pressure re-emerges. Traders will watch these levels closely to assess the pair’s ability to sustain its bullish trajectory.
EUR/USD daily chart
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