EUR/USD: Fate hinges on USD – OCBC
|Euro (EUR) consolidated overnight in absence of fresh catalyst while markets wait and see US CPI data for any tariff-related implications. EUR was last at 1.1675, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Risks remain skewed to the downside
"Bearish momentum on daily chart intact while the decline in RSI moderated. Risks remain skewed to the downside for now. Next support at 1.1660 levels (21 DMA), 1.1620. If these levels break, then more downside may play out. Next big support at 1.1470 levels (50 DMA)."
"Resistance at 1.1710, 1.1830 levels. For the day, we watch for details from French PM Bayrou with regards to defence spending."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.