EUR/USD fragile, now looks to 1.1400 – UOB

Pablo Piovano FXStreet

FX Strategists at UOB Group noted the pair looks vulnerable and could test the 1.1400 area in the next weeks.

Key Quotes

24-hour view: “The ‘target’ indicated at 1.1470 yesterday was exceeded as EUR slumped to an overnight low of 1.1447. Downward momentum has improved considerably and from here, a break of last month’s 1.1430 would not surprise at all and the next support at 1.1400 may just come into the picture as well. On the upside, we expect 1.1510 to be strong enough to cap any intraday EUR strength (minor resistance is at 1.1485)”.

Next 1-3 weeks: “We indicated yesterday (18 Oct, spot at 1.1505) EUR could “weaken further in the coming days” but highlighted “strong support is expected at 1.1430”. However, the subsequent decline was more rapid and ‘impulsive’ than expected as EUR plummeted to a low of 1.1447. The price action not only suggests a break of 1.1430 seems likely now but also the next support at 1.1400 is ‘vulnerable’. Looking ahead, a clear break of 1.1400 would be a good indication that EUR could threaten the year-to-date low near 1.1300. All in, we expect EUR to stay on the defensive in the coming days unless it can reclaim 1.1540 (‘key resistance’ was at 1.1590 yesterday)”.

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 climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.