EUR/USD remains capped near 1.0650 ahead of Europe open

Dhwani Mehta FXStreet

The shared currency wipes out gains and trades muted against its American counterpart in early Europe, keeping EUR/USD capped below the mid-point of 1.06 handle.

The major trades quite choppy, although remains confined within a 15-pips narrow range, as markets await the European open for fresh impetus on the prices. The European traders will return to markets after a 4-day Easter holiday break, and play a catch-up with the recent developments, especially on the political space.

More so, subdued trading activity seen around the US dollar versus its main peers, after the upmove seen in the US last session, also collaborates to the lack-luster trading seen in EUR/USD.

Looking ahead, focus remains on a slew of US macro updates lined up for release in the NA session, in absence of economic news from the Euroland. Also, latest polls’ results on the French election are closely eyed for any impact on the Euro, as we remain just few days away from the first round of the binary event scheduled this Sunday.

EUR/USD Technical Levels

Technical resistances for the pair are aligned at 1.0674 (Monday’s high), 1.0687/90 (Apr 6 & 5 high) and finally 1.0715 (March 13 high). On the flip side, the spot finds next support at 1.00600/00 (Monday’s low/ round number), a break below that level could open the door to 1.0568 (multi-month lows) and 1.0500 (key support).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Week ahead – RBNZ and BoC decide on rates ahead of all-important US NFP

Dollar rebounds ahead of ISM PMI and NFP data. RBNZ is expected to raise rates; focus to fall on forward guidance. BoC is set to remain on hold; will it raise rates in 2027?

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.