EUR/USD Technical Analysis: Near term bearish below the 55-day SMA at 1.1268

The pair is prolonging the upside momentum and looks to consolidate above the critical 1.1200 barrier.
The initial hurdle of relevance emerges in the 1.1270 region, coincident with last week’s tops and the 55-day SMA. The downside pressure is expected to mitigate above this region.
Looking at the broader picture, another move lower to the 1.1100 neighbourhood remains on the cards as long as the multi-month resistance line, today at 1.1317, caps the upside.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1195
Today Daily Change	28
Today Daily Change %	-0.04
Today daily open	1.12

Trends
Daily SMA20	1.1227
Daily SMA50	1.1266
Daily SMA100	1.1329
Daily SMA200	1.1412

Levels
Previous Daily High	1.1211
Previous Daily Low	1.1172
Previous Weekly High	1.1266
Previous Weekly Low	1.1135
Previous Monthly High	1.1326
Previous Monthly Low	1.1111
Daily Fibonacci 38.2%	1.1196
Daily Fibonacci 61.8%	1.1187
Daily Pivot Point S1	1.1177
Daily Pivot Point S2	1.1155
Daily Pivot Point S3	1.1139
Daily Pivot Point R1	1.1216
Daily Pivot Point R2	1.1232
Daily Pivot Point R3	1.1254

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

GBP/USD advances to three-month peak beyond 1.3600

GBP/USD extends its daily rally and trades at its highest level since mid-May above 1.3600. The US Treasury Department decision to double the sice of liquidity support buyback operations for longer-dated nominal coupon securitiez weighs heavily on the US Dollar and helps the pair push higher. Earlier in the day, the data from the UK showed that annual Consumer Price Index (CPI) inflation picked up to 2.9% in July, meeting estimates, while core CPI rose by 2.6% YoY in July versus 2.5% expected.

EUR/USD surges to 11-week high above 1.1650 after US Treasury announcement

EUR/USD gathers bullish momentum and trades at its highest level since early June above 1.1650 on Wednesday. The US Dollar stays under heavy bearish pressure after the US Treasury announced that it will increase the size of liquidity support buyback operations for longer-dated nominal coupon securities. Later in the day, investors will scrutinize FOMC Minutes for fresh clues on policy outlook.

Gold holds above $4,500, highest since June on falling US bond yields

Gold eases from its highest level since early June, though it trades above $4,500 during the Asian session on Thursday. The US Dollar draws some support from the US-Iran standoff and hawkish FOMC Minutes, capping the upside for the bullion. Meanwhile, the US Treasury Department stepped in to provide relief to bond markets, leading to a further decline in yields and limiting the downside for the non-yielding yellow metal.

Australia unemployment rate expected to hold at 4.4% in July

Australia will release the July monthly employment report on Thursday at 01:30 GMT. Ahead of the announcement, analysts anticipate a modest 15K increase in job creation, while the Unemployment Rate is expected to remain steady at 4.4%.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.