EUR/USD Price Analysis: Hovers below 1.0700, eyeing the 1.0600 figure amid bearish signals

EUR/USD trades at 1.0696, up 0.01%, but remains below the pivotal 1.0700 mark, signaling potential for further downside.
For a bullish reversal, the pair needs to clear 1.0700 and aim for September 6 daily high of 1.0748 as an intermediate resistance.
Most likely scenario sees EUR/USD targeting May 31 low of 1.0635, with a breach potentially exposing the 1.0600 psychological level.

Christian Borjon Valencia FXStreet

The EUR/USD begins the Asian session almost flat but below the 1.0700 figure, seen as a bearish signal, after printing losses of 0.29% on Thursday, which could open the door to test May lows. At the time of writing, the major trades at 1.0696, up 0.01%.

EUR/USD Price Analysis: Technical outlook

The daily chart portrays a continuation of the downtrend, as the pair achieved a new lower-low and trades near the bottom of the weekly range. However, being the 1.0700 figure that usually keeps the EUR/USD seesawing in the top/bottom of the double zero mark, buyers and sellers need to take action to win the battle.

For buyers, the EUR/USD must climb above 1.0700 and reclaim the September 6 daily high of 1.0748, an intermediate resistance level. Once cleared, the pair's next ceiling level would be the September 5 high at 1.0798 before challenging the 200-day Moving Average (DMA) at 1.0822.

On the flip side, and the most likely scenario, due to recent economic data and the EUR/USD breaking decisively below the 200-DMA, the first support would be the May 31 daily low of 1.0635. A breach of the latter will expose the psychological 1.0600 figure, followed by the March 15 swing low of 1.0516.

EUR/USD Price Action – Daily chart

EUR/USD

Overview
Today last price	1.0696
Today Daily Change	-0.0031
Today Daily Change %	-0.29
Today daily open	1.0727

Trends
Daily SMA20	1.0853
Daily SMA50	1.0957
Daily SMA100	1.0916
Daily SMA200	1.0822

Levels
Previous Daily High	1.0749
Previous Daily Low	1.0703
Previous Weekly High	1.0946
Previous Weekly Low	1.0772
Previous Monthly High	1.1065
Previous Monthly Low	1.0766
Daily Fibonacci 38.2%	1.0731
Daily Fibonacci 61.8%	1.072
Daily Pivot Point S1	1.0704
Daily Pivot Point S2	1.068
Daily Pivot Point S3	1.0657
Daily Pivot Point R1	1.075
Daily Pivot Point R2	1.0772
Daily Pivot Point R3	1.0796

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

GBP/USD slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD declines to near 1.1400 as softer German inflation undercuts ECB hike bets

The EUR/USD pair loses momentum to near 1.1410 during the early Asian trading hours on Wednesday, pressured by receding bets for aggressive tightening by the European Central Bank (ECB). Traders will take more cues from the preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone and US Manufacturing Purchasing Managers Index report, which are due later in the day.

Gold's path of least resistance remains to downside ahead of Warsh

Gold comes under renewed selling pressure early Wednesday and gives up $4,000 yet again. The US Dollar stands tall on surging USD/JPY, Mideast woes and hawkish Fed bets. Gold remains poised to crack November 2025 lows near $3,930 amid bearish technicals.

Stellar, Pyth Network extend rebound amid broader market stress

The broader cryptocurrency market remains heavy, with Bitcoin trading below $59,000 at press time on Wednesday, as US President Donald Trump weighs an all-out war with Iran but opts for diplomatic talks. Meanwhile, Stellar and Pyth Network emerge as bullish outliers over the last 24 hours.

Why a hawkish Bank of Japan could trigger the next Bitcoin sell-off

The Japanese Yen hits a 40-year low of 162.00 against the US Dollar, raising concerns about intervention or additional rate hikes by the Bank of Japan. BoJ may sell US Treasuries to buy back Yen, potentially pushing US bond yields higher and making Bitcoin less attractive to investors.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.