The EUR/USD lost ground during the American session and turned negative, falling for the fifth consecutive day. The US Dollar remained strong amid ris
k aversion and higher Treasury yields. After reaching a high around 1.0920, the pair weakened and fell to the 1.0860 area.
The Euro initially spiked at the beginning of the American session but then reversed its gains and moved lower. The narrowing yield differential between US and German bonds weighed on EUR/USD. Additionally, the decline in equity prices boosted demand for the US Dollar.for July, which is not expected to bring any surprises, with the annual rate at 5.3%. They will also report Construction Output for June.
The fundamental story continues to support the US Dollar, favored by the latest round of US economic data and general risk aversion. In such an environment, any rebounds in EUR/USD are likely to be limited untilThe EUR/USD continued its downward movement for the fifth consecutive day, and the charts still indicate a clear downside bias. On the daily chart, the Relative Strength Index is approaching 30, indicating oversold conditions, while momentum is turning south below midlines.
The 4-hour chart also confirms the downside bias. The pair failed to hold above the 20-SMA and turned lower, hitting fresh multi-month lows. Currently, EUR/USD is avoiding consolidation below 1.0860, which would open the doors for further losses. The next support level stands at 1.0850, followed by the July low around 1.0830. Ahead of the Asian session, above 1.0880 the Euro could likely climb back above 1.0900.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Euro Price Action Update: EUR/USD at the Beginning of a Broader Bearish Reversal?The Euro closed at its lowest against the US Dollar since early July, with EUR/USD breaking under the 100-day Moving Average. Is this the beginning of a broader reversal?
Consulte Mais informação »
EUR/USD Price Forecast: Euro Under Pressure on Stout US Economic DataThe euro remains above the 1.09 handle against the USD but could breach below as US fundamental data continues to reflect a robust economy.
Consulte Mais informação »
EUR/USD Price Forecast: Selling Pressure Remains Below the 100-Day MAEUR/USD failed to hold onto early session gains surrendering the 1.0900 handle for a third successive day. A limited calendar over the coming days leaves EURUSD at the mercy of overall sentiment and the DXY.
Consulte Mais informação »
Gold Price Forecast: XAU/USD stays bearish below $1,925, US data, Fed Minutes eyedGold Price (XAU/USD) cheers a pullback in the US Dollar, as well as mixed the market’s consolidation ahead of the top-tier US data/events to portray a
Consulte Mais informação »
Euro Ahead of Euro Area GDP, FOMC Minutes: EUR/USD, EUR/AUD, EUR/GBP Price SetupsEUR is testing key levels against some of its peers ahead of the release of Euro area GDP data (due later today) and the FOMC minutes (due Thursday). What is the outlook for EUR/USD, EUR/GBP, and EUR/AUD?
Consulte Mais informação »
EUR/USD dips below 1.0900 as Fed’s minutes show split views amongst Fed officialsEUR/USD dropped below 1.0900 for the second straight day, as the latest Federal Reserve (Fed) monetary policy minutes began to show policymakers are s
Consulte Mais informação »