EUR/USD Price Analysis: Euro clings to 3.5-week’s high, trades above 1.1000 figure

EUR/USD bull recovery from 34-month lows remains intact.
The level to beat for bulls is the 1.1047 resistance.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a bear trend below the main daily simple moving averages (SMAs). However, the quote is sharply reversing up from 34-month lows while challenging the 50 and 100 SMA on the daily chart.

EUR/USD four-hour chart

EUR/USD is challenging the 1.1047 resistance while above the main SMAs on the four-hour chart. The bulls stay in control suggesting that the greenback could extend its up move towards the 1.1085 and 1.1143 levels, according to the Technical Confluences Indicator. Support can be expected near the 1.1006 and 1.0960 price levels.

Resistance: 1.1047, 1.1085, 1.1143

Support: 1.1006, 1.0960, 1.0915

Additional key levels

EUR/USD

Overview
Today last price	1.1038
Today Daily Change	0.0045
Today Daily Change %	0.41
Today daily open	1.0993

Trends
Daily SMA20	1.091
Daily SMA50	1.1031
Daily SMA100	1.1056
Daily SMA200	1.11

Levels
Previous Daily High	1.1006
Previous Daily Low	1.0877
Previous Weekly High	1.0864
Previous Weekly Low	1.0778
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0957
Daily Fibonacci 61.8%	1.0926
Daily Pivot Point S1	1.0911
Daily Pivot Point S2	1.083
Daily Pivot Point S3	1.0783
Daily Pivot Point R1	1.104
Daily Pivot Point R2	1.1088
Daily Pivot Point R3	1.1169

Author

Flavio Tosti

Independent Analyst

AUD/USD meets support near 0.7020 ahead of key jobs data

AUD/USD’s decline has gathered extra pace on Wednesday, with the pair slipping back to levels last seen in early August in the low 0.7000s. The continuation of the bearish tone in the pair has come on the back of the strong upward trend in the Greenback, underpinned by rising bets for extra tightening by the Fed. Moving forward, the jobs report will gather all the attention on the domestic calendar.

USD/JPY stands firm near mid-157.00s, close to two-week high

USD/JPY hovers around mid-157.00s in the Asian session on Wednesday, near two-week highs touched last Friday as the BoJ's dovish rate hike continues to undermine the Japanese Yen. Meanwhile, the US Dollar remains firm amid the Fed's hawkish stance, adding support to the pair, though JPY intervention fears cap further gains. Markets pay little heed to the completion of the round of US-Iran indirect talks ahead of Trump-Xi meeting.

Gold falls to weekly troughs below $4,300

Gold rapidly leaves behind two daily upticks in a row and comes under heightened downside pressure midweek. Indeed, the precious metal breaches below the $4,300 mark per troy ounce to reach weekly lows amid the marked recovery in the US Dollar and the generalised upbeat tone in the US money market.

Sky rallies as Galaxy Digital allocates $100 million to sUSDS

Galaxy Digital (GLXY) has allocated $100 million of Sky Protocol’s yield-bearing sUSDS to its corporate treasury, approving the token as collateral across its institutional trading business as the two firms deepen their onchain financing relationship.

Oil rebounds above $90: Why is the Canadian Dollar still falling?

USD/CAD extends its advance on Wednesday and trades around 1.4090 at the time of writing, up 0.21% on the day. The pair remains close to its recent highs, supported by a firm US Dollar (USD), while the Canadian Dollar (CAD) struggles to recover losses from the recent decline in Oil prices. Oil dynamics, however, are becoming less negative for the Loonie.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.