Technical Analysis: EUR/USD Recovery Limited by SMA Line

In the European trading session on Friday, EUR/USD continued to maintain a recovery mode near the 1.0650 level. The resurgence in risk sentiment is supporting this pair as the US Dollar serves as a safe haven amidst heightened concerns. Reports of Israel's attack on Iran earlier today have caused turmoil in the market, adding pressure on EUR/USD.

Based on technical analysis, although prices are gradually recovering, they are still constrained by the SMA line. The downward trend persists and imposes pressure on prices. Investors need to closely monitor market fluctuations to determine whether this trend will continue in the near future.