EUR/USD: Restraint bulls – OCBC

FXStreet Insights Team FXStreet

Euro (EUR) saw whippy trade on Friday, falling at first in reaction to Trump’s threat of 50% tariff on EU goods. But losses were erased amid broad USD weakness. EUR was last seen at 1.1379 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Risks somewhat skewed towards upside

"EU trade chief Sefcovic said that the 27-member bloc is committed to securing a trade deal with US based on respect not threat. The EU remains committed to securing a deal that works for both EU-US. But Trump expressed impatience with the slow progress on negotiations and is looking to raise tariff on EU on 1 Jun (which was later extended to 9 July)."

"Bearish momentum on daily chart faded while RSI rose towards near overbought conditions. Risks somewhat skewed towards upside but we watch price action, which appear to be rather restraint relative to other FX. Resistance at 1.1420/30 levels. Decisive break puts next resistance at 1.1570 (recent high)."

"Failing which, the pair may revert to trading recent range. Support at 1.1280 (21 DMA), 1.1235 (23.6% fibo retracement of 2025 low to high) and 1.1150 (50 DMA)."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.