EUR/USD Price Analysis: Minor support emerges at 1.0712

EUR/USD trades within a narrow range around 1.0770.
Occasional bearish moves could revisit the 1.0710 region.

Pablo Piovano FXStreet

EUR/USD looks cautious around 1.0760/70 amidst alternating risk appetite trends at the beginning of the week.

In case bears regain the upper hand, the pair could slip back to the provisional 55-day SMA near 1.0730 ahead of the minor support at 1.0712 (low March 24). A deeper retracement could extend to the 100-day SMA, today at 1.0621.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0333.

EUR/USD daily chart

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.

EUR/USD regains 1.1800 and beyond on USD U-turn

The sudden bout of selling pressure on the US Dollar allows EUR/USD to leave behind the initial weakness and advance to two-day highs just above 1.1800 the figure on Friday. The pair’s jump comes as investors continue to assess the US Supreme Court ruling on Trump’s global tariffs.

GBP/USD pops above 1.3500 on weaker Dollar

GBP/USD picks up extra upside traction and reclaims the area above the 1.3500 hurdle at the end of the week. That said, Cable sets aside four daily pullbacks in a row, regaining some composure in response to the sudden bout of downside pressure hurting the Greenback.

Gold stays bid, still below $5,100/oz

Gold is extending its run higher for a third straight session on Friday, navigating the area just past the key $5,000 mark per troy ounce. The move reflects ongoing geopolitical tensions in the Middle East, renewed losses in the Greenback and rising US Treasury yields.