EUR/USD technical analysis: Euro under pressure near daily lows as US Retail Sales beat expectations

EUR/USD is trading near daily lows following the release of the better-than-expected US Retail Sales data.
The level to beat for sellers is the 1.1136 support.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily time-frame, the single currency is trading in a bear trend below its main daily simple moving averages (DSMAs). The US Retail sales came in better-than-expected, strengthening the USD.

EUR/USD 4-hour chart

The Euro is challenging the 1.1136 support. A beak below the level would open the doors to further losses towards 1.1107, 1.1084 and 1.1061 levels.

EUR/USD 30-minute chart

The market is under bearish pressure at daily lows. Immediate resistances are seen at the 1.1144 and 1.1160 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1138
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	1.1138

Trends
Daily SMA20	1.1168
Daily SMA50	1.1236
Daily SMA100	1.1223
Daily SMA200	1.1294

Levels
Previous Daily High	1.1192
Previous Daily Low	1.1131
Previous Weekly High	1.1251
Previous Weekly Low	1.1104
Previous Monthly High	1.1373
Previous Monthly Low	1.106
Daily Fibonacci 38.2%	1.1154
Daily Fibonacci 61.8%	1.1168
Daily Pivot Point S1	1.1116
Daily Pivot Point S2	1.1092
Daily Pivot Point S3	1.1054
Daily Pivot Point R1	1.1176
Daily Pivot Point R2	1.1214
Daily Pivot Point R3	1.1238

Author

Flavio Tosti

Independent Analyst

EUR/USD remains heavy near 1.1600 after hot EU inflation data

EUR/USD remains heavily offered near 1.1600, six-week lows, in the European session on Tuesday. The pair fails to find any inspiration from a surprise pick up in Eurozone inflation for February, as the US Dollar continues to attract safe haven flows amid escalating geopolitical tensions in the Middle East.

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold falls below $5,300 as stronger USD counter Middle East woes

Gold attracts some intraday selling and falls below $5,300 on Tuesday. The US Dollar climbs to a fresh high since January 20 and turns out to be a key factor exerting downward pressure on the commodity. However, concerns about a broader regional conflict in the Middle East continue to weigh on investors' sentiment and underpin demand for the traditional safe-haven bullion.

Stellar risks deeper losses as derivatives metrics turn negative

Stellar is trading red below $0.16 at the time of writing on Tuesday, after a slight recovery the previous day. Weakening derivatives data caps the recovery, while an unfavorable technical outlook projects a deeper correction for the XLM token in the upcoming days.

Middle East conflict ramps up a gear as energy price spike rips through markets

It’s another risk off day as geopolitical headwinds continue to batter financial markets. Although markets calmed during the US session and US stocks managed to post gains on Monday, this has not fed through to the European session, and stocks and bonds are sharply lower for a second day.

Hyperliquid Price Forecast: HYPE rises on commodities demand amid US-Iran war

Hyperliquid (HYPE) steadies above $33 at press time on Tuesday, marking its fourth consecutive day of recovery in a broadly volatile market due to the ongoing US-Israel strikes on Iran.