EUR/USD halts 4-day winning streak, eases to 1.1240

Dhwani Mehta FXStreet

EUR/USD’s retreat from 1.1280 region found some support around 1.1240 levels, with the bulls now consolidating near the last, unperturbed by improved risk appetite following first US presidential election debate.

EUR/USD awaits US data for fresh direction

Currently, EUR/USD trades -0.10% lower at 1.11243, hovering within a striking distance of session lows struck at 1.1239 earlier on the day. The main currency pair pauses its four-day winning streak and slips in the red zone this Tuesday, as the US dollar remains bid across the board as markets price-in Clinton’s win after the first US election debate, triggering renewed risk-on wave across the financial markets.

Focus now shifts towards the US fundamentals lined up for release later this week, while Fed speaks, including Yellen’s testimony will also grab a lot of attention and provide fresh incentives to the major.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.1256 (Sept 16 high). A break beyond the last, doors will open for a test of 1.1286 (Sept 15 high) and from there to 1.1300 (round figure). On the flip side, the immediate support is placed at 1.1219 (Sept 26 low) below which 1.1145 (static support) and 1.1119 (Sept 21 low) could be tested.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD tests 1.1800 barrier above 50-day EMA

EUR/USD gains ground after three days of losses, trading around 1.1790 during the Asian hours on Thursday. The 14-day Relative Strength Index momentum indicator at 47 (neutral) reflects easing momentum. The RSI below 50 keeps momentum balanced and could limit follow-through.

GBP/USD struggles near four-week low vs. USD, below 1.3500 amid BoE rate cut bets

The GBP/USD pair is seen consolidating its weekly losses registered over the past three days and oscillating in a narrow range near a four-week trough, touched during the Asians session on Thursday. Spot prices currently trade just below the 1.3500 psychological mark and seem vulnerable to slide further.

Gold yearns for acceptance above the $5,000 mark

Gold preserves 2% advance seen on Wednesday as buyers gather pace early Thursday. The US Dollar holds January Fed Minutes-led gains ahead of more US macro data. Gold needs a sustained break above the key $5,000 barrier; daily RSI stays bullish.

Top Crypto Gainers: World Liberty Financial, Sky, and Cosmos confront major resistance

World Liberty Financial, Sky, and Cosmos rank among the top gainers over the last 24 hours but face critical overhead resistance levels. WLFI gained momentum at the World Liberty Forum, an invite-only conference held at Mar-a-Lago by US President Donald Trump’s family, while SKY and ATOM reversed off a crucial support level.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.