EUR/USD Price Analysis: Consolidates near 1.0900 followed by barrier at 23.6% Fibonacci

EUR/USD hovers below the psychological resistance at 1.0900.
A break above the 14-day EMA at 1.0916 could lead the pair to reach the major barrier at 1.0950.
Technical indicators suggest a bearish sentiment towards the key support at 1.0850.

Akhtar Faruqui FXStreet

EUR/USD edges higher to near 1.0890 during the Asian session on Tuesday. The EUR/USD pair consolidates due to the uncertainty over the uncertainty over the timing of a potential interest rate cut by the European Central Bank (ECB). However, the ECB is expected to maintain its current Main Refinancing Operations Rate of 4.5% in its upcoming policy meeting on Thursday.

The EUR/USD pair could find immediate resistance at the psychological level at 1.0900. A breakthrough above the barrier could support the pair to surpass the 23.6% Fibonacci retracement at 1.0914 aligned with the 14-day Exponential Moving Average (EMA) at 1.0916. If the pair gains further movement, it could explore the area around the major level at 1.0950.

The 14-day Relative Strength Index (RSI), a momentum oscillator gauging the speed and direction of price movements, is positioned below the 50 mark. This positioning indicates a leaning towards bearish sentiment in the market for the EUR/USD pair.

Furthermore, the trend-following momentum indicator, the Moving Average Convergence Divergence (MACD), reinforces the confirmation of a bearish trend. The MACD line is positioned below the centerline, signaling a bearish stance. Additionally, there is a divergence below the signal line, adding further weight to the indications of a downward trend in the EUR/USD pair.

The EUR/USD pair could meet the key support at the 1.0850 level in conjunction with the monthly low at 1.0844. A break below the latter could push the pair to navigate the area around the psychological support at 1.0800.

EUR/USD: Daily Chart

EUR/USD: additional technical levels

Overview
Today last price	1.0893
Today Daily Change	0.0009
Today Daily Change %	0.08
Today daily open	1.0884

Trends
Daily SMA20	1.0958
Daily SMA50	1.0921
Daily SMA100	1.0771
Daily SMA200	1.0846

Levels
Previous Daily High	1.091
Previous Daily Low	1.088
Previous Weekly High	1.0967
Previous Weekly Low	1.0844
Previous Monthly High	1.114
Previous Monthly Low	1.0724
Daily Fibonacci 38.2%	1.0891
Daily Fibonacci 61.8%	1.0898
Daily Pivot Point S1	1.0873
Daily Pivot Point S2	1.0862
Daily Pivot Point S3	1.0844
Daily Pivot Point R1	1.0902
Daily Pivot Point R2	1.0921
Daily Pivot Point R3	1.0932

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

AUD/USD slides as AI sell-off rattles Wall Street

The Aussie Dollar dives 0.11% on Thursday as the US Dollar retreats from monthly highs, with safe-haven flows shifting from the Greenback to the Japanese Yen and the Swiss Franc amid losses on Wall Street and US yields. The AUD/USD trades at 0.6960 at the time of writing.

USD/JPY slips below 158.00 as USD retreats

USD/JPY returns to the red below 158.00 in the Asian session on Thursday amid speculation that authorities will step in to prop up the Japanese Yen. Meanwhile, the US Dollar eases from near an 18-month high on profit taking, ignoring Wednesday's hawkish FOMC Minutes and the risk of a further escalation of tensions in the Middle East, adding to the pair's pullback.

Gold clings to daily gains; still below $4,150

Gold regains some composure and climbs back to the vicinity $4,150 mark per troy ounce amid decent gains on Thursday. The yellow metal’s recovery follows some loss of momentum in the US Dollar strength and a decent drop in US Treasury yields across the curve.

XRP downtrend persists as EMA support strains while Binance reserves swell

Ripple (XRP) sellers are gaining ground on Thursday, as the token slips below $1.40. Sell-side pressure remains intense in the broader crypto market, as seen with leading digital assets, including Bitcoin (BTC) currently below $83,000 and Ethereum (ETH), sliding below $2,600. Despite the correction, XRP retains a constructive technical outlook, with support provided by a key moving average cluster.

Three fundamental drivers are all pushing the Euro south. This chart shows them lining up on 1.1000

EUR/USD has already fallen sharply, but the forces pushing the pair lower are becoming increasingly interconnected. French fiscal concerns, renewed energy pressure and an uncomfortable policy dilemma for the European Central Bank (ECB) are colliding with a US economy that continues to give the Federal Reserve (Fed) little reason to turn dovish.

The UK 30-year gilt just hit a 1998 high. Is that good or bad for the British Pound?

The yield on the UK's 30-year government bond, or gilt, went through 6% on October 1 for the first time since early 1998, and on Monday the Pound was at its strongest against the Euro since June 2025. The gilt market's 28-year high is mostly someone else's. Since early May, the 30-year gilt yield has risen about 0.15 of a percentage point and the US 30-year about 0.7.