EUR/USD gains traction above 1.0540
Updated
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Today, the EUR/USD pair is maintaining a positive trend in the early Asian trading session on Friday, trading at 1.0544. The weakness of the US dollar and the decrease in US Treasury yields provide some support for this currency pair.
After reaching its lowest level in 10 months around 1.0450 on Tuesday, the EUR/USD exchange rate has started to recover, accumulating a gain of over 100 pips. If the exchange rate continues to rise along this path, it will likely reach the 1.0600 level. The immediate support level is at 1.0525, followed by 1.0500.
Today, the EUR/USD pair is maintaining a positive trend in the early Asian trading session on Friday, trading at 1.0544. The weakness of the US dollar and the decrease in US Treasury yields provide some support for this currency pair.
After reaching its lowest level in 10 months around 1.0450 on Tuesday, the EUR/USD exchange rate has started to recover, accumulating a gain of over 100 pips. If the exchange rate continues to rise along this path, it will likely reach the 1.0600 level. The immediate support level is at 1.0525, followed by 1.0500.
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good luckTrade active
Note
Market participants will also pay close attention to the action in Wall Street. In case risk flows dominate the financial markets on a weak NFP print and US stocks rally heading into the weekend, EUR/USD is likely to end the week on a bullish note.Trade closed: target reached
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