- EUR/USD on Friday, marks a solid recovery until 1.0485.
- Technical indicators indicate to strengthen speed with the pair near short -term resistance.
- Focus on whether buyers can maintain traction above 1.0500 psychological levels.
The EUR/USD pair ended the week on a fast note, climbing 0.66% to settle at 1.0485 on Friday. This step indicates the continuity of its recovery after recent consolidation within a relatively narrow trading limit. The ability of the pair to maintain pressure upwards highlighted the buyer’s confidence to increase as it reaches the major resistance levels.
Technical reading reflects strong bullish bias. The relative power index (RSI) has increased to 62, well growing in the positive field and rapidly, which indicates strong purchases for further benefits and indicates room. Meanwhile, the moving average convergence deviation (MACD) is printing the rising green bars, confirming the increasing speed and reduces the increasing demand.
For immediate approach, the 1.0500 mark will serve as a decisive resistance, with a decisive brake above it, it is opening the door for the next target at 1.0530. On the negative side, the support rests at 1.0450, followed by 1.0420 levels, which can serve as a safety trap when the pressure emerges. Traders will closely look at these levels to assess the pair’s ability to maintain their rapid trajectory.
EUR/USD Daily Chart
