The EUR/USD holds nailed around 1.3800, having recovered some ground this Tuesday, albeit limited to an ultra tight range. So far, minor data coming from the EU showed Construction Output fell, while ECB’s Coeure insisted they have room to cut rates further in an interview, adding nothing new to what we already know.
Technically, the pair remains unable to set a clear direction with the 4 hours chart showing price recovering from the strong support area around 1.3780/90 and approaching its 20 SMA now acting as dynamic resistance right above current price. Indicators in the same time frame head slightly higher albeit in neutral territory, showing no real strength.
Price needs to actually extend beyond 1.3825 static resistance level to be able to catch up momentum, eyeing 1.3860 as immediate short term target. The downside remains well protected by 1.3780, with an unlikely break below favoring a test of the 1.3730 price zone.
View Live Chart for EUR/USD
Technically, the pair remains unable to set a clear direction with the 4 hours chart showing price recovering from the strong support area around 1.3780/90 and approaching its 20 SMA now acting as dynamic resistance right above current price. Indicators in the same time frame head slightly higher albeit in neutral territory, showing no real strength.
Price needs to actually extend beyond 1.3825 static resistance level to be able to catch up momentum, eyeing 1.3860 as immediate short term target. The downside remains well protected by 1.3780, with an unlikely break below favoring a test of the 1.3730 price zone.
View Live Chart for EUR/USD
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.