EUR/USD Price Analysis: Bulls take control as pair climbs to fresh highs

EUR/USD extends gains, increasing to 1.0500 on Friday, striking its greatest level given that late January.
The set reinforces above the 20-day SMA, enhancing a shift in belief towards the advantage.
Momentum indications stay strongly bullish, with RSI climbing up deep in favorable surface.

EUR/USD continued its upward trajectory on Friday, reaching 1.0500 and marking its greatest level in weeks. The set’s stable climb above the 20-day Simple Moving Typical (SMA) recommends that purchasers are restoring control, possibly moving the short-term outlook to a more positive position. This break above resistance levels might set the phase for additional advantage if momentum stays undamaged.

Technical indications signal growing bullish momentum. The Relative Strength Index (RSI) has actually risen to 61, verifying strong purchasing interest, while the Moving Typical Merging Divergence (MACD) pie chart prints increasing green bars, enhancing the continuous upward push. The set’s capability to hold above the 20-day SMA recommends that dips might be considered as purchasing chances instead of indications of restored weak point.

Looking ahead, the next test for bulls will be the 1.0525-1.0550 zone, which might function as the next resistance location. If purchasers keep control, an approach 1.0600, around the 100-day SMA, is not out of the concern. On the other hand, needs to the set slip back listed below the 20-day SMA, preliminary assistance emerges at 1.0450, with a much deeper retracement possibly targeting 1.0420.