- EUR/USD struggles to build on Thursday's rebound, stays near 1.0700.
- US data and quarter-end flows could camp up the pair's volatility on Friday.
- The first round of French presidential election will take place on Sunday.
EUR/USD stays in a consolidation phase at around 1.0700 on Friday after posting small gains on Thursday.
Euro PRICE This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.02% | 0.06% | 0.72% | 0.11% | -0.03% | 0.76% | 0.68% | |
| EUR | 0.02% | 0.10% | 0.79% | 0.18% | 0.02% | 0.85% | 0.77% | |
| GBP | -0.06% | -0.10% | 0.63% | 0.08% | -0.09% | 0.73% | 0.67% | |
| JPY | -0.72% | -0.79% | -0.63% | -0.60% | -0.71% | 0.08% | -0.05% | |
| CAD | -0.11% | -0.18% | -0.08% | 0.60% | -0.13% | 0.65% | 0.59% | |
| AUD | 0.03% | -0.02% | 0.09% | 0.71% | 0.13% | 0.82% | 0.75% | |
| NZD | -0.76% | -0.85% | -0.73% | -0.08% | -0.65% | -0.82% | -0.07% | |
| CHF | -0.68% | -0.77% | -0.67% | 0.05% | -0.59% | -0.75% | 0.07% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
The US Bureau of Economic Analysis will release the Personal Consumption Expenditures (PCE) Price Index data for May, the Federal Reserve's preferred gauge of inflation, later in the day. Investors are likely to react to the monthly core PCE Price Index print, which is not distorted by base effects and excludes volatile food and energy prices.
Investors expect the monthly core PCE Price Index to rise 0.1% in May following the 0.2% increase recorded in April. A reading at or below the market expectation could make it difficult for the US Dollar (USD) to find demand in the American session. On the other hand, a print of 0.2% or higher could provide a boost to the USD and weigh on EUR/USD.
Even if the PCE inflation report hurts the USD, EUR/USD could struggle to stage a decisive rebound, with investors refraining from positioning themselves for an extended Euro strength ahead of the first round of election in France this weekend.
It's also worth noting that this Friday is the last trading day of the second quarter. Quarter-end flows and position adjustments later in the day could ramp up market volatility and trigger irregular movements in major currency pairs.
EUR/USD Technical Analysis
1.0670, the Fibonacci 78.6% retracement of the latest uptrend, stays intact as strong support. In case EUR/USD drops below this level and confirms it as resistance, 1.0600 (psychological level, static level) could be set as the next bearish target.
On the upside, 1.0700 (psychological level, static level) aligns as interim resistance before 1.0730-1.0745 (Fibonacci 61.8% retracement, 100-period Simple Moving Average) and 1.0760 (Fibonacci 50% retracement).
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
EUR/USD accelerates losses to 1.0930 on stronger Dollar
The US Dollar's recovery regains extra impulse sending the US Dollar Index to fresh highs and relegating EUR/USD to navigate the area of daily troughs around 1.0930 in the latter part of Friday's session.
GBP/USD plummets to four-week lows near 1.2850
The US Dollar's rebound keep gathering steam and now sends GBP/USD to the area of multi-week lows in the 1.2850 region amid the broad-based pullback in the risk-associated universe.
Gold trades on the back foot, flirts with $3,000
Gold prices are accelerating their daily decline, steadily approaching the critical $3,000 per troy ounce mark as the Greenback's rebound gains extra momentum and US yields tighten their retracement.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker holds steadily above $1,250 support as a whale scoops $1.21 million worth of MKR. Addresses with a 100k to 1 million MKR balance now account for 24.27% of Maker’s total supply. Maker battles a bear flag pattern as bulls gather for an epic weekend move.
Strategic implications of “Liberation Day”
Liberation Day in the United States came with extremely protectionist and inward-looking tariff policy aimed at just about all U.S. trading partners. In this report, we outline some of the more strategic implications of Liberation Day and developments we will be paying close attention to going forward.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.