EUR/USD: Busted through the 200-day ma scope for the 1.1240 December high – Commerzbank

FXStreet Team FXStreet

EUR/USD has at long last taken out the 200-day ma and its current May high at 1.1012/19 with gusto, with scope for the 1.1240 December high, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, informs.

See: German Retail Sales drop 5.3% MoM in April vs. -12% expected, EUR/USD keeps 1.11

Key quotes

“The close above the 1.1012 200-day ma should be enough to regenerate upside interest to the 1.1240 December peak and beyond to the 200-week ma at 1.1332. Note that we have a confirmed buy signal on the DMI Index and now look for a move higher.”

“Dips should find initial support at 1.0927 ahead of the short-term uptrend at 1.0815. Provided this holds, an upside bias remains entrenched.”

Author

FXStreet Team

FXStreet

EUR/USD rises to 1.1800 neighborhood amid renewed USD selling and trade uncertainties

The EUR/USD pair regains positive traction during the Asian session on Wednesday and jumps to the 1.1800 neighborhood in the last hour, reversing the previous day's modest losses. The intraday move up is sponsored by the emergence of fresh US Dollar, which continues to be weighed down by persistent trade-related uncertainties.

GBP/USD remains stronger above 1.3500 following Trump’s State of the Union

GBP/USD remains in the positive territory for the fourth successive session, trading around 1.3510 during the Asian hours on Wednesday. The pair appreciates as the US Dollar remains subdued following US President Donald Trump’s first State of the Union address of his second administration before a joint session of Congress.

Gold re-attempts $5,200 amid tariffs and geopolitical woes

Gold buyers are back in the game early Wednesday after seeing a correction from monthly highs on Tuesday. The US Dollar slips after Trump’s SOTU fails to impress and as AI-driven worries ease. Dovish Fed bets also weigh. Gold looks north so long as the key 61.8% Fibo resistance at $5,142 holds on the daily chart.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.