Friday, March 7, 2025 12:44 PM EDT

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The EUR/USD pair stands higher on Friday after the European session, reaching its strongest level since November 2024 above 1.0800 as bullish momentum continued to build. Buyers remain firmly in control, driving the pair into fresh territory, with price action now reflecting strong upward momentum.
The Relative Strength Index (RSI) is positioned in overbought territory and rising sharply, indicating strong buying pressure but also signaling that the rally could face exhaustion soon. Meanwhile, the Moving Average Convergence Divergence (MACD) is printing rising green bars, reinforcing the current bullish outlook. A notable development is the approaching bullish crossover between the 20-day and 100-day Simple Moving Averages (SMAs), which could further support buyers if confirmed.
On the technical front, resistance is now seen near the 1.0900 zone, with a break above potentially opening the door for further gains toward 1.0950. On the downside, immediate support stands around 1.0800, followed by 1.0700 and well below the 20 and 100-day SMA convergence near 1.0500. If selling pressure emerges, a pullback toward these levels could signal a technical correction before another bullish attempt.
EUR/USD daily chart
(Click on image to enlarge)

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