KBC Bank: Euro to test 1.1216 November low

Sandeep Kanihama FXStreet Contributor

The KBC FX analysts expect 1.1216 on EUR/USD to support the currency pair:

“The short-term momentum stays USD supportive and Euro cautious. The EURUSD is testing 1.1270/67 support level. The 1.1216 November low is the next level on the radar. After the recent decline, quite some euro negative news should be discounted.”

“That said, we see no trigger yet to reverse the USD-positive/euro negative bias. We don’t row against the tide. Positive news on global trade or on the US-EU trade talks (autos) might provide such a trigger.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.