EUR/USD tumbles to fresh lows near 1.1380 on stronger USD, data

The pair extends the leg lower below the 1.1400 handle.
DXY retakes the 96.00 mark and above, multi-day tops.
German Factory Orders contracted 1.6% in December.

Pablo Piovano FXStreet

The selling bias round the single currency is now picking up pace and dragging EUR/USD to test fresh multi-day lows in the proximity of 1.1380.

EUR/USD weaker on USD-buying, data

The pair is retreating for yet another session on Wednesday, navigating fresh multi-day lows in the 1.1385/80 band on the back of the continuation of the rally in the greenback.

In addition, EUR is suffering another poor print from the German docket. This time, Factory Orders contracted at a monthly 1.6% during December, adding to November’s 0.2% contraction.

Later in the session, Building Permits, Durable Goods Orders and Trade Balance figures are all due across the pond, keeping the buck in centre stage.

What to look for around EUR/USD

The extent and duration of the slowdown in Euroland continues to be in centre stage following recent figures from Q4 GDP in the bloc and the persistent negative streak from German fundamentals. On the political scenario, May’s EU parliamentary elections should start to gather relevance with the days, paying special attention to the potential advance of populism in the region.

EUR/USD levels to watch

At the moment, the pair is losing 0.19% at 1.1383 and a break below 1.1356 (23.6% Fibo of the September-November drop) would target 1.1330 (200-week SMA) en route to 1.1289 (2019 low Jan.24). On the other hand, the next hurdle emerges at 1.1419 (21-day SMA) seconded by 1.1442 (38.2% Fibo of the September-November drop) and finally 1.1514 (high Jan.31).

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 struggles below 1.1800 ahead of US data, Fedspeak

EUR/USD remains trapped in a tight range below 1.1800 in the European session on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on the US data and Fedspeak.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold holds pullback below $5,200 amid USD uptick

Gold holds moderate losses below $5,200 in European trading on Tuesday, though it lacks follow-through selling. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers ahead of mid-tier data and Fedspeak.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

AI-scare trade and tariff uncertainty takes hold

It was quite a day, with AI-disruption fears and tariff uncertainty triggering a risk-off session. By now, it's nearly impossible to have missed the Supreme Court's 6-3 decision that struck down US President Donald Trump's reciprocal tariffs last Friday.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.