- The EUR/USD rises to 1,0420 on Wednesday, extending its upward trend.
- The torque exceeds the 20 -day SMA, reinforcing a stronger short -term perspective.
The EUR/USD pair continued its upward progress on Wednesday, rising 0.39% to 1,0420 while buyers maintained control. With the last price action, the torque has decisively risen above the simple mobile average (SMA) of 20 days, a key resistance level that had previously limited the upward attempts. This rupture indicates a possible change in feeling, favoring more short -term profits.
Impulse indicators are aligned with the continuous strength of the pair. The relative force index (RSI) has risen to 53, pointing out a greater purchase interest and a stronger bullish bias. Meanwhile, the histogram of the convergence/divergence of mobile socks (MACD) prints growing green bars, reflecting a sustained increase in impulse.
For the EUR/USD to continue with its recent profits, the next levels of resistance to be monitored are 1,0450 and 1,0485. A rupture above these levels could open the door to a movement towards 1,0520. Down, the 20 -day SMA, which now acts as a support, is positioned about 1,0365, followed by a stronger support zone around 1,0350. Staying above the 20 -day SMA will be key so that the PAR holds its positive trajectory.
EUR/USD daily graphics
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
