EUR/USD Price Analysis: Pair stabilizes below 20-day SMA, sharp weekly decline

EUR/USD posts mild movements after a volatile week, bouncing slightly after recent sharp losses.
After facing a third rejection at the 100-day SMA, the pair plummeted to a two-week low, shedding over 0.70% before stabilizing.
Key resistance stands at the 20-day SMA near 1.0420.

Patricio Martín FXStreet

EUR/USD closed the week with a slight recovery but remains in a vulnerable position after failing to sustain gains above the 100-day Simple Moving Average (SMA). The pair faced a decisive rejection at this level, which now appears to be converging with the 20-day SMA, increasing the likelihood of a bearish crossover.

Despite this downside pressure, by the end of the week, the pair stabilized just below the 20-day SMA, limiting further downside momentum. However, technical signals remain cautious, with the Relative Strength Index (RSI) in negative territory but flat, suggesting a temporary pause in the bearish momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram showed a fresh red bar, indicating the presence of selling pressure.

Looking ahead, immediate resistance is seen at the 20-day SMA, which needs to be reclaimed for a sustained recovery. A break above this level could expose the 100-day SMA once again. On the downside, support is located at 1.0380, followed by 1.0350, a key level that could determine the next directional move.

EUR/USD daily chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

GBP/USD climbs to two-day highs past 1.3200

GBP/USD picks up extra pace and surpasses the 1.3200 threshold on Thursday. That said, Cable manages to shrug off initial weakness and regain balance on the back of the fresh selling pressure hurting the Greenback.

EUR/USD pushes harder; focus is back to 1.1400

EUR/USD’s daily recovery now gathers steam, sending spot to the vicinity of the key 1.1400 barrier on Thursday. The pair’s bounce follows some decent loss of momentum in the US Dollar in the wake of the release of US PCE data and the weekly labour market readings.

Gold bounces from 2026 lows, remains pressured

Gold reverses part of its recent weakness on Thursday, managing to reclaim the area just above the $4,000 mark per troy ounce. The precious metal regains traction on the back of renewed selling interest in the Greenback, although expectations of rate hikes by the Fed are likely to keep buyers on the sidelines for now.

Bitcoin tests $60,000 as whales sell off – Aave and Jupiter show resilience

The broader cryptocurrency market remains under intense selling pressure, with Bitcoin back at $60,000 for the third time this year. On-chain data shows selling pressure from large-wallet investors, commonly referred to as whales, while total liquidations hit nearly $1 billion in 24 hours.

Crypto Today: Bitcoin, Ethereum, and Ripple defend their last line of defenses

The broader cryptocurrency market remains under immense downward pressure as investors' interest shifts toward lucrative AI and memory stocks. Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are holding above their June 6 lows, with bulls hoping short-term resilience will ward off sellers.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.