EUR/USD Technical Analysis: The pair faces formidable support in the 1.1260/70 band

The pair remains under pressure below 1.1300 the figure so far this week, although the idea of a deeper down move, let’s say below 2018 lows at 1.1215, appears to be losing some traction as of late.
That said, an attempt of some consolidation is on the cards in the near term as EUR/USD keeps looking for a more relevant catalyst.
While the area of support in the 1.1270/50 band holds, spot keeps the chances of a rebound to 1.1400 and above alive.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview:
    Today Last Price: 1.1276
    Today Daily change: 28 pips
    Today Daily change %: -0.16%
    Today Daily Open: 1.1294
Trends:
    Daily SMA20: 1.1374
    Daily SMA50: 1.1395
    Daily SMA100: 1.1408
    Daily SMA200: 1.1532
Levels:
    Previous Daily High: 1.1311
    Previous Daily Low: 1.1249
    Previous Weekly High: 1.1462
    Previous Weekly Low: 1.132
    Previous Monthly High: 1.1586
    Previous Monthly Low: 1.1289
    Daily Fibonacci 38.2%: 1.1287
    Daily Fibonacci 61.8%: 1.1273
    Daily Pivot Point S1: 1.1258
    Daily Pivot Point S2: 1.1223
    Daily Pivot Point S3: 1.1197
    Daily Pivot Point R1: 1.132
    Daily Pivot Point R2: 1.1346
    Daily Pivot Point R3: 1.1381

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 flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.