Today
-0.05%
5 Days
-1.05%
1 Month
-2.42%
6 Months
-5.12%
Year to Date
-5.33%
1 Year
-4.51%
Opening Price
1.112Previous Closing Price
1.112
The downside prevails as long as 1.1172 is resistance, with 1.1113 and 1.1101 as targets
above 1.1172, look for 1.1192 and 1.1204.
The downside prevails as long as 1.1172 is resistance, with 1.1113 and 1.1101 as targets
The EUR/USD pair holds steady near 1.1125 during the early Asian session on Wednesday. Traders prefer to wait on the sidelines and avoid taking big positions ahead of the US Federal Reserve (Fed) interest rate decision on Wednesday.
The US Dollar (USD) has added to Monday’s optimism, advancing to the area of fresh two-week highs on the back of mixed US Treasury yields and the continuation of the pre-Fed cautious stance in the global markets.
Scotiabank strategists Shaun Osborne and Eric Theoret highlight Euro (EUR) weakness versus the stronger US Dollar (USD), driven by French bond underperformance and poor confidence data. They note EUR/USD is trading below minor support, with key support at 1.1113 now exposed.
EUR/USD remains on the back foot on Tuesday as the Euro (EUR) underperforms across the board amid concerns over France’s public finances, while a firmer US Dollar (USD) adds pressure. At the time of writing, the pair trades around 1.1145, extending losses for a fifth consecutive day.
The US Dollar has been one of the strongest performers among major currencies in the last few sessions.
MUFG’s Derek Halpenny highlights continued Euro weakness, noting EUR remains the worst performing G10 currency this month despite a narrowing OAT/Bund spread and more supportive swap differentials. The analysis links renewed EUR/USD downside to rising natural gas prices and growing investor scepticism over the European economy’s ability to withstand the ongoing energy price shock.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
