- EUR/USD declines and settles around 1.0285 amid fading bullish momentum.
- The Relative Strength Index is rising, still confined to negative territory and indicating tepid buying interest.
- The MACD histogram remains flat with green bars, highlighting the lack of a convincing upward follow-through.
The EUR/USD pair struggled to maintain bullish momentum on Friday, falling 0.20% to settle around the 1.0285 level. Efforts to break decisively above the 20-day SMA have once again failed, underscoring the continued headwinds facing any near-term recovery. While the pair managed to avoid a more pronounced sell-off, the market’s appetite for stronger gains appears weak. On the technical front, the Relative Strength Index (RSI) rose slightly to 44, a level that still indicates continued bearish overtones. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram continues to print flat green bars, indicating that buyers have not yet fully intervened to reverse the pair’s recent rejection from overhead resistance.
Looking ahead, the 20-day simple moving average, located near 1.0330, remains a pivotal hurdle for EUR/USD. A convincing move above this threshold will be needed to shift the short-term outlook in favor of the bulls. If this fails, further downside risks may emerge, with the next support layer likely to gather near 1.0260-1.0250.
Daily chart of EUR/USD
