- EUR/USD rises to 1.0440 on Thursday, reversing losses after a three-day decline.
- The pair rebounded strongly off the 20-day SMA, gaining over 0.40% of its intra-week drop.
- Momentum indicators present indicators of stabilization, with RSI rising sharply and MACD flattening in optimistic territory.
After a pointy three-day decline that noticed EUR/USD shed greater than 0.50% of its worth following final week’s rally, bulls regained management on Thursday. The pair climbed to 1.0440, marking a 0.40% acquire as patrons defended the 20-day Easy Shifting Common (SMA), which acted as a key technical flooring.
Momentum indicators trace at a shift in sentiment. The Relative Power Index (RSI) has turned greater, now at 57, signaling renewed upside momentum after dipping earlier within the week. In the meantime, the Shifting Common Convergence Divergence (MACD) histogram stays flat however holds in inexperienced territory, suggesting that bearish momentum has stalled.
Trying forward, the pair’s means to carry above the 20-day SMA might be essential for sustaining a broader restoration. If patrons preserve management, the following key resistance lies close to 1.0500, the place stronger promoting stress might emerge. On the draw back, a break beneath 1.0420 would invalidate the newest rebound and expose EUR/USD to additional losses towards 1.0380.
EUR/USD every day chart
