EUR/USD Price Analysis: Prints three-day downtrend on the way to 1.0630

EUR/USD takes offers to renew intraday low during three-day downtrend.
Clear break of 12-day-old ascending trend line, receding bullish bias of MACD favor sellers.
Monthly horizontal support, 20-DMA appears a tough nut to crack for sellers.

Anil Panchal FXStreet

EUR/USD drops below 1.0700 as bears keep reins during the third consecutive day amid Tuesday’s Asian session.

A downward sloping resistance line from late April joins the pair’s repeated failure to cross the 50-DMA to favor the EUR/USD bears. Also keeping the sellers hopeful is the recent break of an upward sloping support line from May 13, now resistance near 1.0710. Furthermore, the receding size of the bullish bars on the MACD histogram adds strength to the bearish bias.

That said, a convergence of the 20-DMA and one-month-old horizontal area appears strong support around 1.0630.

Following that, April’s low of 1.0470 could act as the last defense for EUR/USD buyers before directing the quote towards the yearly low of 1.0349.

Meanwhile, recovery moves need validation from the 1.0710 support-turned-resistance before challenging the 1.5-month-old descending trend line near 1.0750.

Also questioning the EUR/USD buyers is the previous month’s high near 1.0785 and the 1.0800 threshold.

EUR/USD: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	1.0686
Today Daily Change	-0.0010
Today Daily Change %	-0.09%
Today daily open	1.0696

Trends
Daily SMA20	1.0617
Daily SMA50	1.0715
Daily SMA100	1.0954
Daily SMA200	1.1228

Levels
Previous Daily High	1.0752
Previous Daily Low	1.0684
Previous Weekly High	1.0787
Previous Weekly Low	1.0627
Previous Monthly High	1.0787
Previous Monthly Low	1.035
Daily Fibonacci 38.2%	1.071
Daily Fibonacci 61.8%	1.0726
Daily Pivot Point S1	1.0669
Daily Pivot Point S2	1.0643
Daily Pivot Point S3	1.0601
Daily Pivot Point R1	1.0737
Daily Pivot Point R2	1.0779
Daily Pivot Point R3	1.0805

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.