EUR/USD demonstrates consolidation patterns near 1.0850 during Friday's European trading session.
Technical indicators reveal sustained bullish pressure with price action maintaining positions above critical moving averages.
Market participants eye 1.0900 as decisive level that could bitcoin mining freetrigger extended upward movement in currency pair.
The EUR/USD currency pair exhibits tight trading behavior within the 1.0845-1.0860 range during early European market hours. Current price levels reflect marginal gains of 0.04% as market participants assess technical formations.
Technical analysis of the four-hour chart reveals significant bullish signals. The currency pair maintains positions above both the 50-hour and 100-hour Exponential Moving Averages, indicating sustained buying interest. The Relative Strength Index currently registers above the critical 50 threshold, reinforcing the constructive technical outlook for potential upward continuation.
Key resistance levels emerge at the psychological 1.0900 mark, with potential for extended movement toward the Bollinger Band upper boundary at 1.0948 upon successful breakout. Additional upside targets include the 1.1000 psychological level, which previously served as resistance during August trading sessions.
Support structures materialize at recent swing lows near 1.0830, with additional downside protection potentially emerging at the 1.0800 round number. Further support zones include technical levels at 1.0766 (50-hour EMA) and 1.0725 (Bollinger Band lower boundary), which could attract buying interest should corrective movements develop.