- USTR additional tariffs on some products will be delayed to December 15.
- Risk-on is sending the greenback up and safe-haven assets down.
- EUR/USD is testing the daily lows near 1.1173 support.
EUR/USD daily chart
EUR/USD is consolidating for the sixth consecutive day. The common currency is capped by the 1.1220/55 resistances as well as the 50/100-day simple moving averages (DSMAs). The US said that some tariffs are to be delayed until December 15. The news sparked a risk-on environment as US stock indices leapt higher, safe-haven gold, yen and CHF sold-off and the greenback rose.
EUR/USD 4-hour chart
EUR/USD remains in a range between the 1.1255 resistance and the 1.1160 support while the market is trading below a downward sloping 200 SMA. Bears are testing the 1.1173 support. However, EUR/USD would need a daily close below 1.1160 to confirm a bearish bias in the medium term.
EUR/USD 30-minute chart
The market is testing the 1.1173 while below its main SMAs. The range theme is intact above 1.1160. Immediate resistances are seen at 1.1200 and 1.1220, according to the Technical Confluences Indicator.
Additional key levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD extends gains above 1.0700, focus on key US data
EUR/USD meets fresh demand and rises toward 1.0750 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
USD/JPY keeps pushing higher, eyes 156.00 ahead of US GDP data
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, recapturing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming intervention risks. The focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
Gold closes below key $2,318 support, US GDP holds the key
Gold price is breathing a sigh of relief early Thursday after testing offers near $2,315 once again. Broad risk-aversion seems to be helping Gold find a floor, as traders refrain from placing any fresh directional bets on the bright metal ahead of the preliminary reading of the US first-quarter GDP due later on Thursday.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price.
Meta takes a guidance slide amidst the battle between yields and earnings
Meta's disappointing outlook cast doubt on whether the market's enthusiasm for artificial intelligence. Investors now brace for significant macroeconomic challenges ahead, particularly with the release of first-quarter GDP data.