EUR/USD Technical Analysis: Euro afloat above the 1.1350 support

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a bear trend below its major simple moving averages (SMA) as bears broke below the 1.1400 figure.

EUR/USD 4-hour chart

EUR/USD is trading below its main SMAs as the 50 SMA is about to cross below the 100 SMA.
A break below the current level might lead to a move to the 1.1340 and 1.1320 level.

EUR/USD 30-minute chart

As bears are showing lack of conviction, bulls are most likely going to recapture the 1.1380, 1.1420 and 1.1460 level to the upside.

Additional key levels

EUR/USD

Overview:
    Today Last Price: 1.1369
    Today Daily change: 0.0004 pips
    Today Daily change %: 0.04%
    Today Daily Open: 1.1365
Trends:
    Daily SMA20: 1.143
    Daily SMA50: 1.1386
    Daily SMA100: 1.1463
    Daily SMA200: 1.1604
Levels:
    Previous Daily High: 1.1412
    Previous Daily Low: 1.1353
    Previous Weekly High: 1.1491
    Previous Weekly Low: 1.1353
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Daily Fibonacci 38.2%: 1.1375
    Daily Fibonacci 61.8%: 1.1389
    Daily Pivot Point S1: 1.1341
    Daily Pivot Point S2: 1.1318
    Daily Pivot Point S3: 1.1283
    Daily Pivot Point R1: 1.14
    Daily Pivot Point R2: 1.1435
    Daily Pivot Point R3: 1.1458

Author

Flavio Tosti

Independent Analyst

EUR/USD onsolidates around mid-1.1800s as traders keenly await FOMC Minutes

The EUR/USD pair struggles to capitalize on the previous day's goodish rebound from the 1.1800 neighborhood, or a one-and-a-half-week low, and consolidates in a narrow band during the Asian session on Wednesday. Spot prices currently trade just below mid-1.1800s, nearly unchanged for the day.

GBP/USD seems vulnerable near mid-1.3500s; UK CPI/FOMC Minutes awaited

The GBP/USD pair struggles to capitalize on the previous day's late rebound from an over one-week low – levels below the 1.3500 psychological mark – and trades with a negative bias for the third consecutive day on Wednesday. The downside, however, remains cushioned as investors seem reluctant to place aggressive directional bets ahead of the release of the latest UK consumer inflation figures and FOMC Minutes.

Gold regains positive traction after Tuesday's over 2% slump as traders await FOMC Minutes

Gold gains some positive traction during the Asian session on Wednesday and recovers a part of the previous day's heavy losses more than 2%, to the $4,843-4,842 region or a nearly two-week low. The intraday move higher could be attributed to repositioning trade ahead of the release of the FOMC Minutes.

Top Crypto Gainers: Jito drops, Morpho holds steady, Convex Finance climbs

Decentralized Finance tokens, including Jito, Morpho, and Convex Finance, rank among the top-performing crypto assets over the last 24 hours. Jito dips on Wednesday after rallying 22% the previous day on the launch of a new mainnet node.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.