- According to the European Congress, EUR/USD is profitable, at 1,0870 near the region, reaching a new high since November 2024.
- The 20 and 100-day averages approach bullish frequencies, but over-acquired RSIs indicate possible corrections.
- Immediate resistance is observed at close to 10,900, but the main support is 1.0800.
The EUR/USD pair continues to climb on Friday following the European session, reaching its highest level since November 2024 above 1.0800. Bullish momentum remains strong, keeping buyers in control as the pair moves into new territory. The price action suggests a sustained upward trend.
The Relative Strength Index (RSI) has entered overbought territory and is rising sharply, signaling strong buying interest while also indicating the possibility of a temporary pullback. Meanwhile, the Moving Average Convergence Divergence (MACD) continues to print rising green bars, reinforcing the bullish outlook. Additionally, a potential bullish crossover between the 20-day and 100-day Simple Moving Averages (SMAs) is approaching, which, if confirmed, could provide further support for buyers.
From a technical standpoint, resistance is now seen around the 1.0900 level, with a breakout potentially paving the way for gains toward 1.0950. On the downside, immediate support is found near 1.0800, followed by 1.0700 and the convergence of the 20-day and 100-day SMAs near 1.0500. If selling pressure intensifies, a retracement to these levels could indicate a corrective move before another upward attempt.
EUR/USD Daily Trend Analysis
