EUR/USD Price Analysis: Interim contention emerges near 1.0650

Pablo Piovano FXStreet

- EUR/USD comes under pressure following Monday’s tops.

- Further decline could revisit the 1.0650 zone in the near term.

EUR/USD faces increasing selling pressure and returns to the sub-1.0700 region afer hitting new highs near 1.0750 at the beginning of the week.

In case the downward bias picks up extra pace, the pair could extend the pullback to the 55-day SMA near 1.0650, which is expected to provide temporary contention.

In the meantime, while below the 200-day SMA at 1.0804, the pair’s outlook should remain negative.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0669
Today Daily Change	57
Today Daily Change %	-0.48
Today daily open	1.072

Trends
Daily SMA20	1.0595
Daily SMA50	1.0636
Daily SMA100	1.0805
Daily SMA200	1.0806

Levels
Previous Daily High	1.0756
Previous Daily Low	1.0718
Previous Weekly High	1.0747
Previous Weekly Low	1.0517
Previous Monthly High	1.0695
Previous Monthly Low	1.0448
Daily Fibonacci 38.2%	1.0732
Daily Fibonacci 61.8%	1.0742
Daily Pivot Point S1	1.0706
Daily Pivot Point S2	1.0693
Daily Pivot Point S3	1.0668
Daily Pivot Point R1	1.0745
Daily Pivot Point R2	1.077
Daily Pivot Point R3	1.0784

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.

AUD/USD holds steady above 0.7100 after weak Australian PMIs

AUD/USD remains range-bound around 0.7100 in the Asian session on Wednesday after Australia's flash PMIs showed manufacturing slipped into contraction and services expanding slowly for a second straight month. Furthermore, a bullish US Dollar acts as a headwind for the pair as traders keenly await the crucial Trump-Xi summit on Thursday. Meanwhile, markets shrugs off US-Iran indirect talks.

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 struggles near $4,350 as USD strength offsets softer bond yields

Gold struggles to build on the overnight bounce from sub-$4,300 levels and remains defensive in Wednesday's Asian session. The US Dollar sits near its July 30 high amid the Fed's hawkish stance and geopolitical risks, capping the bullion. Meanwhile, the recent decline in Oil prices eases inflation fears, keeping US bond yields depressed and limiting the downside in non-yielding yellow metal.

Ethereum holds above $2,700 as investors continue bullish positioning

Ethereum (ETH) held above $2,700 on Tuesday after starting the week on a positive note. The top crypto stretched its 7-day gains to 14% after energy prices and the US 10-year Treasury yields dipped on Monday.

AI capex enters the Fed's inflation case with October hike pricing past even money

AI capex enters the Fed's inflation case with October hike pricing past even money; UK headroom halved and French CDS at post-2020 wides before either budget lands; Pezeshkian in New York with a Gulf slot scheduled and no Iranian bilateral. Monday priced the same AI buildout at two completely different costs of capital.

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.