EUR/USD Price Analysis: Edges higher to near 1.0810 followed by a major support level

EUR/USD loses ground on the hawkish remarks by Fed Chair Jerome Powell.
Technical analysis suggests a confirmation of the bearish trend in the pair.
The psychological level at 1.0800 could act as immediate support aligned with January’s low at 1.0794.

Akhtar Faruqui FXStreet

EUR/USD makes an effort to recover recent losses, edging higher to near 1.0810 during the Asian session on Thursday. The EUR/USD pair faces downward pressure following hawkish remarks from Federal Reserve Chairman Jerome Powell. Powell dismissed the possibility of an interest rate cut in March, citing elevated inflation levels and a robust performance of the United States (US) economy.

The major level at 1.0850 may act as immediate resistance for the EUR/USD pair. A successful break above the major level could potentially propel the EUR/USD pair to approach the resistance zone around the 23.6% Fibonacci retracement level at 1.0876 aligned with the 21-day Exponential Moving Average (EMA) at 1.0878. If the pair surpasses the resistance zone, it could inspire the bulls of the EUR/USD pair to explore the region around the psychological barrier at the 1.0900 level.

The technical analysis for the EUR/USD pair shows that the 14-day Relative Strength Index (RSI) is positioned below the 50 mark, signaling a bearish momentum in the market. In addition, the Moving Average Convergence Divergence (MACD), a lagging indicator, suggests a potential confirmation of a downward trend with the MACD line being positioned below the centerline and showing the divergence below the signal line.

Immediate support for the EUR/USD pair can be found at the psychological level of 1.0800, aligning with January's low at 1.0794. A decisive break below this level could strengthen bearish sentiment, potentially navigating toward the major support region at the 1.0750 level.

EUR/USD: Daily Chart

EUR/USD: additional technical levels

Overview
Today last price	1.0809
Today Daily Change	0.0001
Today Daily Change %	0.01
Today daily open	1.0808

Trends
Daily SMA20	1.0896
Daily SMA50	1.0915
Daily SMA100	1.0779
Daily SMA200	1.0841

Levels
Previous Daily High	1.0888
Previous Daily Low	1.0795
Previous Weekly High	1.0932
Previous Weekly Low	1.0813
Previous Monthly High	1.1046
Previous Monthly Low	1.0795
Daily Fibonacci 38.2%	1.083
Daily Fibonacci 61.8%	1.0852
Daily Pivot Point S1	1.0773
Daily Pivot Point S2	1.0737
Daily Pivot Point S3	1.068
Daily Pivot Point R1	1.0865
Daily Pivot Point R2	1.0923
Daily Pivot Point R3	1.0958

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 bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold looks to regain $4,200 amid pre-US CPI repositioning

Gold is stretching higher toward $4,200 on Friday, extending recovery from two-month lows. US Dollar eases in tandem with Oil prices and Treasury yields, awaiting US sentiment data. The tide seems to be turning in favor of Gold, but the daily RSI is still bearish.

Ethereum drops below $2,500 as rising Treasury yields trigger selling pressure

Ethereum (ETH) fell below $2,500 on Thursday, down nearly 4% and extending losses for a third consecutive day. The decline follows rising Oil prices and US Treasury yields over the past few days. The 10Y Note Yield reached a 24-year high at 5.35%, and the 30Y Note Yield climbed above 5.70% earlier on the day, sparking major distributions in the crypto market.

The inflation illusion: How government formulas shape the data

Every month, the government releases a barrage of economic statistics. Employment, inflation, consumer spending, economic growth, and countless other measurements are presented as objective facts that policymakers, investors, and the public can use to understand the economy. But what happens when the methodology used to produce those numbers changes?

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.