EUR/USD expected to test 1.1900 and beyond – UOB

Pablo Piovano FXStreet

Spot is seeing testing/surpassing the critical 1.1900 handle in the next week, according to FX Strategists at UOB Group.

Key Quotes

24-hour view: “We expected further EUR strength yesterday but were of the view that the strong 1.1865 resistance would not “yield so easily”. The overnight high has been 1.1869 and with no sign of weakness just yet, EUR is expected to continue to ‘drift’ higher towards the next resistance at 1.1900. At this stage, a sustained move above this level is not expected (next resistance is at 1.1930). Support is at 1.1835 but the stronger level is closer to 1.1810”.

Next 1-3 weeks: “There is not much to add as we continue to hold the view that the current recovery in EUR has room to extend higher to 1.1930. While it is early days still, the odds for a sustained move above 1.1930 have improved. Overall, this pair is expected to stay underpinned in the coming days as long as the key short-term support at 1.1760 is intact. On a shorter-term note, 1.1810 is already a strong support”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.