EURUSD moved sideways in a range between 1.3296 and 1.3892. As long as 1.3296 support holds, the price action from 1.3832 could be treated as consolidation of the uptrend from 1.2747 (Apr 4, 2013 low), one more rise towards 1.4500 is still possible after consolidation. Resistance is at 1.3740, a break above this level could signal resumption of the uptrend. On the downside, a breakdown below 1.3296 support will indicate that the uptrend from 1.2747 had completed at 1.3892 already, then the pair will find support around 1.2900.
Recommended Content
Editors’ Picks
AUD/USD extends gains due to improved risk appetite
The Australian Dollar maintained its winning streak for the fourth consecutive session on Monday, buoyed by a hawkish sentiment surrounding the Reserve Bank of Australia. This optimism bolsters the strength of the Aussie Dollar, providing support to the AUD/USD pair.
EUR/USD holds positive ground above 1.0750 ahead of Eurozone PMI, PPI data
The EUR/USD trades in positive territory for the fourth consecutive day near 1.0765 on Monday during the early Asian trading hours. The softer US Dollar provides some support to the major pair.
Gold holds below $2,300, Fedspeak eyed
Gold price loses its recovery momentum around $2,295 on Monday during the early Asian session. Investors will keep an eye on Fedspeaks this week, along with the first reading of the US Michigan Consumer Sentiment Index for May on Friday.
Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”
Bitcoin Cash is the current mania in the Cardano ecosystem following a proposal by the network’s executive inviting the public to vote on X, about a possible integration.
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.