Dukascopy Bank Team
Dukascopy Bank SA
EURUSD
During Wednesday's trading session, the European Single Currency surged to 1.1340 level to end the trading session at the 1.1311 mark. During Thursday morning hours, the currency exchange rate was resisted by the 200-hour simple moving average to trade at the 1.1323 mark.
In regards to the near-term future, most likely, the currency exchange rate will move sideways between the 200-hour and the 100-hour SMAs at the 1.1300 level.
On the other side, today's US Retail Sales data release at 13:30 GMT may push the rate to break the 200-hour SMA to trade near the monthly PP at 1.1413 or move the rate downwards to trade near the 61.80% Fibo at the 1.1203 mark.
Interested in EURUSD technicals? Check out the key levels
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
EUR/USD stays weak near 1.0650 ahead of Eurozone PMI data
EUR/USD remains on the back foot near 1.0650 in European trading on Tuesday. Resurgent US Dollar demand amid a cautious risk tone weighs on the pair. Investors stay wary ahead of the preliminary Eurozone and US business PMI data.
GBP/USD eases below 1.2350, UK PMIs eyed
GBP/USD is dropping below 1.2350 in the European session, as the US Dollar sees fresh buying interest on tepid risk sentiment. The further downside in the pair could remain capped, as traders await the UK PMI reports for fresh trading impetus.
Gold price flirts with $2,300 amid receding safe-haven demand, reduced Fed rate cut bets
Gold price (XAU/USD) remains under heavy selling pressure for the second straight day on Tuesday and languishes near its lowest level in over two weeks, around the $2,300 mark heading into the European session.
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
Pendle is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin price.
Focus on April PMIs today
In the euro area, focus today will be on the euro area PMIs for April. The previous months' PMIs have shown a return of the two-speed economy with the service sector in expansionary territory and manufacturing sector stuck in contraction.