The EUR/USD pair trades in positive territory for the second consecutive day around 1.0895 during the early European session on Friday.
EUR/USD holds positive ground near 1.0895 in Friday’s early European session. The pair maintains a positive stance on the 4-hour chart above the 100-period EMA, with a bullish RSI indicator. The first resistance level is seen in the 1.0900-1.0905 zone; the initial support level is located near 1.0860. The European Central Bank decided to cut interest rates by 25 basis points at its June meeting on Thursday, as widely anticipated by markets.
0905 region, representing the upper boundary of the Bollinger Band and psychological level. Further north, the next hurdle is seen near 1.0940, a high of March 21. The additional upside filter to watch is 1.0964 , followed by 1.0981 . On the flip side, the initial support level for the pair is located around 1.0860, portraying the confluence of a low of June 6 and the lower limit of Bollinger Band. The next contention level to watch is the 100-period EMA at 1.0846.
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