- EUR/USD declines by 0.23% on Thursday, hovering near 1.0270 after a short-lived recovery.
- The MACD histogram displays increasing green bars, indicating modest buying interest despite overall bearish pressures.
- RSI remains at 43 in the negative zone, signaling a limited rebound within a broader downtrend.
The EUR/USD pair attempted to stabilize on Thursday but still edged lower by 0.23%, settling near 1.0270. Early buying efforts were thwarted by the pair’s inability to sustain a move above the 20-day Simple Moving Average (SMA), highlighting the fragile nature of its recovery.
From a technical perspective, the Moving Average Convergence Divergence (MACD) indicator shows rising green bars, suggesting that buying pressure remains present. However, the Relative Strength Index (RSI), sitting at 43 in negative territory, underscores the cautious sentiment surrounding the euro. Unless the pair decisively breaks above the 20-day SMA, bullish momentum is likely to remain subdued.
Key levels to watch include initial support at 1.0250, with a drop below this level potentially paving the way toward the 1.0220 zone. On the upside, a clear break above the 1.0300 level could revive buyer interest, setting the stage for a challenge of the 1.0350 resistance if sentiment improves further.
EUR/USD daily chart
