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 (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.
On Sunday (April 13), Trump announced following the breakdown of U.S.-Iran negotiations that the U.S. Navy would impose a maritime blockade on Iranian ports starting Monday.Following the
U.S.-Iran Standoff in the Strait of Hormuz. Iranian-Controlled Strait Has Not Resumed Passage; Why Does Trump Still Want a Military Blockade?Following the failure of U.S.-Iran peace talks, President Trump announced on Sunday that the U.S. Navy will immediately blockade the Strait of Hormuz and prevent any vessels that have pai
Following the failure of U.S.-Iran peace talks, President Trump announced on Sunday that the U.S. Navy will immediately blockade the Strait of Hormuz and prevent any vessels that have pai
West Texas Intermediate (WTI) – the US oil benchmark – has opened the week with a bullish gap, climbing roughly 8%, looking to retarget the $100 threshold.
On April 8, spot gold ( XAUUSD) at one point surged past $4,800 per ounce, hitting a peak of $4,857; however, it fell back to $4,698 on April 9, wiping out all gains in just 48 hours. Thi
Related Instrument
