EUR/USD Price Analysis: Extra gains need to clear 1.0620

EUR/USD revisits the area above 1.0600 once again on Tuesday.
The continuation of the rebound should target the 1.0620 area.

Pablo Piovano FXStreet

EUR/USD regains composure following Monday’s pessimism and breaks above the 1.0600 hurdle.

In case bulls regain the initiative, the pair should initially retarget the minor barrier at 1.0617 (September 29) ahead of the weekly peak of 1.0767 (September 12). On the flip side, if bears regain the upper hand, the pair could slip back to the area of yearly lows around 1.0450 (October 3).

Meanwhile, further losses remain on the table as long as the pair navigates the area below the key 200-day SMA, today at 1.0823.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0595
Today Daily Change	57
Today Daily Change %	0.26
Today daily open	1.0567

Trends
Daily SMA20	1.0604
Daily SMA50	1.0762
Daily SMA100	1.084
Daily SMA200	1.0825

Levels
Previous Daily High	1.0587
Previous Daily Low	1.052
Previous Weekly High	1.06
Previous Weekly Low	1.0448
Previous Monthly High	1.0882
Previous Monthly Low	1.0488
Daily Fibonacci 38.2%	1.0545
Daily Fibonacci 61.8%	1.0561
Daily Pivot Point S1	1.0529
Daily Pivot Point S2	1.0491
Daily Pivot Point S3	1.0462
Daily Pivot Point R1	1.0596
Daily Pivot Point R2	1.0625
Daily Pivot Point R3	1.0663

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

GBP/USD: Daily gains remain capped by 1.3650

GBP/USD leaves behind Monday’s pessimism and advances marginally on Tuesday. Cable’s humble gains, however, appear to have met quite a decent resistance in the 1.3650 zone for now, in a context of a slight selling pressure hovering around the Greenback.

EUR/USD struggles to regain pace; gyrates around 1.1670

EUR/USD clinches humble gains around 1.1670 following Tuesday’s close on Wall Street. Indeed, marginal losses in the US Dollar encourages spot to set aside two dauly pullbacks in a row and maintain the 1.1700 barrier on the cross-hairs for now. Moving forward, US inflation tracked by the PCE and another revision of Q2 GDP data should keep investors entertained on Wednesday.

Gold: Buyers still hold the grip

Gold navigates the middle of its daily range near $4,650 per troy ounce on Tuesday. The lack of clear direction in the yellow metal comes on the back of the widespread cautious tone among market participants, a mildly offered stance in the US Dollar and a marked decline in US Treasury yields across the curve.

Australia CPI expected to show inflation easing in July

The Australian Bureau of Statistics (ABS) will publish the July Consumer Price Index (CPI) on Wednesday at 01:30 GMT. The report is expected to show that inflation rose 3.2% from a year earlier, easing from the 3.8% posted in June. The monthly CPI, however, is forecast at 0.8% following the -0.1% print from the previous month.

Canada hits US goods with tariffs; The rate market sees a problem

On September 8, Canada begins charging its own importers 15%, 25% and 50% on roughly 700 lines of American goods. The measure is billed as dollar for dollar, and on the arithmetic of covered trade it is. What it is not is a tax on the United States.