EUR/USD Technical Analysis: Recent tops and the 55-day SMA keeps limiting extra gains

EUR/USD remains bid above the 1.1200 handle although gains are still capped by the 1.1260/70 region, where converge the 55-day SMA and recent tops.
Further consolidation is likely in the near term, although the inability to clear this initial hurdle could motivate sellers to step in once again and put the pair under downside pressure.
In the broader picture, the negative outlook on spot stays unchanged while below the key multi-month resistance line at 1.1299. Against this backdrop, the door for another visit to 2019 lows in the 1.1100 neighbourhood remains well open.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1233
Today Daily Change	23
Today Daily Change %	0.10
Today daily open	1.1222

Trends
Daily SMA20	1.121
Daily SMA50	1.125
Daily SMA100	1.132
Daily SMA200	1.1402

Levels
Previous Daily High	1.1264
Previous Daily Low	1.1222
Previous Weekly High	1.1254
Previous Weekly Low	1.1166
Previous Monthly High	1.1326
Previous Monthly Low	1.1111
Daily Fibonacci 38.2%	1.1238
Daily Fibonacci 61.8%	1.1248
Daily Pivot Point S1	1.1208
Daily Pivot Point S2	1.1193
Daily Pivot Point S3	1.1164
Daily Pivot Point R1	1.125
Daily Pivot Point R2	1.1279
Daily Pivot Point R3	1.1293

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.

EUR/USD climbs above 1.1600 on US–Iran peace breakthrough

The EUR/USD pair stays firm above 1.1600 in the European session on Monday. The US and Iran have reached a deal to reopen the Strait of Hormuz on Sunday, which underpins risk sentiment, supporting the Euro against the US Dollar. Now, the main focus this week remains on the Fed policy decision due on Wednesday.

GBP/USD: US-Iran reaches deal supporting advance beyond 20-day EMA

The GBP/USD pair trades 0.35% higher to near 1.3460 during the late Asian trading session. The Cable extends its week-long advance as market sentiment improves further, following the announcement that the United States and Iran have reached a deal.

Gold gains momentum as US, Iran announce a peace deal

Gold price rises to a weekly high during the early European trading hours on Monday. The precious metal rebounds after the United States and Iran had reached a deal to end their conflict, easing concerns about inflation and higher interest rates.

Bitcoin consolidates gains, Ethereum defends support, XRP nears breakout trigger

Bitcoin, Ethereum and Ripple begin the week on a constructive note as the top three cryptocurrencies attempt to extend rebounds after recovering nearly 4%, 2% and 2.6%, respectively. BTC steadies around $65,600, ETH continues to hold firmly above the key $1,700 support, while XRP nears the upper boundary of the falling channel pattern.

President Trump announced that the deal with Iran is complete

President Trump announced that the deal with Iran is complete and he authorises the toll-free opening of the Strait of Hormuz and removal of the US Naval blockade. While the agreement is made, it is expected to be signed on Friday to take effect. The Forex market looks stable and could react slowly to the positivity around the news as Iran still expresses its mistrust on the US.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.