EUR/USD Price Analysis: Consolidates near six-month low around 1.0650

EUR/USD experiences downward pressure due to improved US Dollar (USD).
RSI indicates a predominant bearish sentiment in the market.
The 1.0700 psychological level aligned to the 21-day EMA emerges as the key resistance.

Akhtar Faruqui FXStreet

EUR/USD continues the downward trajectory, trading lower around 1.0640 during the Asian session on Friday. The improved US Dollar (USD) exerts downward pressure on the pair, which could be attributed to the upbeat US Treasury yields.

The pair could meet a key support around the six-month low at 1.0616 aligned to the 1.0600 psychological level.

On the upside, the EUR/USD pair could face a challenge around the 1.0700 psychological level, followed by the 21-day Exponential Moving Average (EMA) at 1.0735.

A firm break above the latter could support the Euro buyers to explore the region around the 1.0750 psychological level lined up with the 23.6% Fibonacci retracement at the 1.0772 level.

The Moving Average Convergence Divergence (MACD) line remains below the centerline and aligns closely with the signal line. This setup indicates a state of equilibrium, implying that the momentum in the underlying asset's price is relatively neutral, without a clear bias towards either bullish or bearish sentiment.

However, the momentum observed in the EUR/USD pair suggests a prevailing bearish sentiment in the market, given that the 14-day Relative Strength Index (RSI) continues to stay below the 50 level.

EUR/USD: Daily Chart

EUR/USD: additional important levels

Overview
Today last price	1.0641
Today Daily Change	-0.0019
Today Daily Change %	-0.18
Today daily open	1.066

Trends
Daily SMA20	1.0745
Daily SMA50	1.0897
Daily SMA100	1.0881
Daily SMA200	1.083

Levels
Previous Daily High	1.0674
Previous Daily Low	1.0617
Previous Weekly High	1.0769
Previous Weekly Low	1.0632
Previous Monthly High	1.1065
Previous Monthly Low	1.0766
Daily Fibonacci 38.2%	1.0639
Daily Fibonacci 61.8%	1.0652
Daily Pivot Point S1	1.0627
Daily Pivot Point S2	1.0594
Daily Pivot Point S3	1.057
Daily Pivot Point R1	1.0683
Daily Pivot Point R2	1.0707
Daily Pivot Point R3	1.074

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.

GBP/USD remains in two-day highs around 1.3260

GBP/USD adds to Friday’s bounce, gathering fresh traction and flirting with the 1.3270 zone on Monday, or two-day tops. Cable’s decent advance comes despite the move higher in the Greenback and investors’ assessing of UK PM K. Starmer's resignation.

EUR/USD remains offered; focus is on 1.1400

EUR/USD rapidly gives back Friday’s rebound and trades with marked losses near 1.1420, or three-month lows, in the latter part of Monday’s NA session. The pair’s intensifies its retracement following the continuation of the robust upside momentum in the US Dollar. Next on tap will be preliminary PMIs the Germany and the Euroland.

Gold bounces off lows, looks to surpass $4,200

Gold regains composure and leaves behind three-consecutive daily declines on Monday, looking to regain the area above the $4,200 mark per troy ounce. Reports of progress in the latest round of US-Iran talks are helping the precious metal maintain its footing at the start of the week, although the stronger Greenback seems to limit the upside potential for now.

XRP recovery underpinned by persistent ETF inflows

Ripple (XRP) gains momentum on Monday, trading above $1.15 as the crypto market widely recovers. This recovery comes amid easing geopolitical tensions in the Middle East, following reports that the United States (US) and Iran made progress in the first round of talks aimed at achieving a lasting peace agreement.

Is Shiba Inu dead or just in a crisis? The data behind SHIB's 95% crash

SHIB, the dog-themed meme coin that became one of the biggest success stories in crypto and turned early buyers into crypto millionaires, is facing tough times. Its price has fallen more than 32% so far this year, and it is down 95% from its all-time high in 2021. Is SHIB simply another fading meme coin, or is the market overlooking a possible recovery story?

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.