EUR/USD: Downside bias on the daily charts – OCBC
Source Fxstreet
The Euro (EUR) rebounded overnight but continued to trade near recent lows. Pair was last seen at 1.0780 levels, OCBC’ FX analysts Frances Cheung and Christopher Wong note.
Momentum turns flat
“EUR rebounded overnight but continued to trade near recent lows, weighed by fresh concerns of political uncertainty in Germany (Chancellor Scholz dismissed Finance Minister and called for confidence vote on 15 Jan) and ongoing concerns of Trump win on European security and exports to US (due to potential tariffs).”
“Momentum turned flat while RSI fell. Risks remain skewed to the downside. Next support at 1.0660/70 levels. Resistance at 1.0740 (76.4% fibo), 1.0830 (61.8% fibo retracement of 2024 low to high).”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Silver remains steady near $54.00 after rejection at $54.40 area.
Gold (XAU/USD) attracts fresh buyers during the Asian session on Friday and climbs to a two-week high, with bulls now eyeing to reclaim the $4,200 mark amid dovish US Federal Reserve (Fed) expectations.
S&P Slashes Vanke to Deep Junk, Warning of 'Unsustainable' Debt WallS&P has cut China Vanke’s rating to CCC- and warned its debt is “unsustainable” as the developer faces an 11.4 billion yuan maturity wall, seeks to delay a 2 billion yuan bond repayment and sees its securities plunge, stoking fresh worries that China’s property sector could slide back into crisis despite state ties.
S&P has cut China Vanke’s rating to CCC- and warned its debt is “unsustainable” as the developer faces an 11.4 billion yuan maturity wall, seeks to delay a 2 billion yuan bond repayment and sees its securities plunge, stoking fresh worries that China’s property sector could slide back into crisis despite state ties.
Bitcoin holds steady above $90,000 as traders eye $100,000, buoyed by Thanksgiving market lull.
Bitcoin (BTC) price continues to trade in green above $91,500 at the time of writing on Thursday after rebounding from the key support level.
