EUR/USD within range post-PMI, around 1.1640

Pablo Piovano FXStreet

The single currency keeps the negative tone on Monday following the release of EMU’s PMI, with EUR/USD navigating the lower end of the range around 1.1640/30.

EUR/USD offered on PMI, USD-buying

The renewed albeit tepid recovery in the demand for the greenback is forcing spot to recede from highs near 1.1690 seen during overnight trade to the current 1.1640/30 band.

The down move is reinforced by poor prints from the advanced PMIs in both Germany and the euro bloc for the current month, while France’s results came in mixed.

The ongoing squeeze lower is somewhat expected by market participants in light of the sharp ascent of the pair as of late, overbought levels gauged by the daily RSI and activity in EUR futures markets.

However, the underlying bullish sentiment around EUR also stays underpinned by the positioning front, where net longs kept rising in the week to July 18 as per the latest CFTC report, this time to the highest level since late December 2011.

EUR/USD levels to watch

At the moment, the pair is losing 0.20% at 1.1641 facing the immediate support at 1.1523 (10-day sma) followed by 1.1477 (low Jul.20) and finally 1.1442 (21-day sma). On the upside, a breakout of 1.1684 (high Jul.24) would target 1.1713 (monthly high Aug.24) and then 1.1800 (psychological level).

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 remains slightly bid near 1.3300

GBP/USD now advances marginally and manages to dispute the 1.3300 region on Tuesday. Indeed, Cable regains some balance on the back of the lacklustre performance of the Greenback, all preceding the Fed’s meeting on Wednesday and the BoE’s gathering on Thursday.

EUR/USD recedes from tops, back below 1.1400

EUR/USD manages to set aside part of the recent weakness and clinches decent gains on Tuesday. Indeed, spot keeps the trade below the 1.1400 mark amid acceptable losses in the US Dollar, all following rising optimism of a US-Iran deal and steady caution prior to the FOMC gathering on Wednesday.

Gold bounces on poor US data

Gold remains under marked downside pressure on Tuesday, although the $4,000 zone per troy ounce emerges as a decent support for now. The precious metal’s pullback comes despite the modest losses in the US Dollar in a context of easing geopolitical tensions ahead of the key Fed event on Wednesday.

XRP falls toward $1.00 despite dwindling exchange reserves

Ripple (XRP) continues to trade under increasing pressure on Tuesday. This marks the second consecutive day of declines, reflecting broader risk-off sentiment as investors appear to shift gears in anticipation of the Federal Reserve (Fed) interest rate decision. On Wednesday, the Federal Open Market Committee (FOMC) is widely expected to leave interest rates unchanged in the 3.50%-3.75% range.

Warning signs in the stock market: Is this the top, or just a very short fuse?

Overnight, South Korea's Kospi fell more than 10%, SK Hynix lost close to 15% and Samsung Electronics lost 13%. Into that, Dow Jones Industrial Average futures traded up around 1% on paint and soft drinks, and S&P 500 futures sat roughly flat. An index that absorbs a memory-chip panic and prints nothing is not a calm market.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.