EUR/USD: Balanced technical picture with resistance seen at 1.1860

FXStreet Team FXStreet

EUR/USD is currently trading mostly unchanged on the day around the 1.1850 level, having hit a low of 1.1829 early on the day. Wednesday's 4-hour chart is painting a mixed picture for the pair, according to FXStreet’s analyst Yohay Elam who sets the key levels to watch.

Key quotes

“EUR/USD is trading around the 100 Simple Moving Average on the 4-hour chart and just above the 50 and 200 SMAs. Momentum has all but disappeared while the Relative Index is stable. The currency pair dropped below the uptrend support that accompanied it in the past week. All in all, the picture is balanced.”

“Some resistance awaits at 1.1860, which provided support in recent days. It is followed by 1.19, which capped EUR/USD on Tuesday. Further above, 1.1920 was a swing high and 1.1965 is the next level to watch.”

“Support awaits at 1.1830, the daily low, followed by 1.1785, which was a trough early in the month. The next levels to watch are 1.1755, and 1.17, both double bottoms.”

Author

FXStreet Team

FXStreet

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.