The EUR/USD pair trades around 1.1430, and despite the intraday retracement, the risk remains skewed to the upside, according to technical readings in the daily chart. EUR/USD holds above all its moving averages, with the 20 Simple Moving Average (SMA) turning modestly higher at around 1.1290 and well above the longer ones. The 100 SMA, in the meantime, extends its advance beyond a flat 200 SMA, in line with higher highs. Finally, Technical indicators aim north above their midlines, also supporting additional gains ahead.
EUR/USD corrects lower from the multi-week high it touched near 1.1500 with the immediate reaction to ECB President Lagarde's comments about the ECB getting to the end of the policy cycle. Growing optimism about improving US-China relations support the USD and cause the pair to lose its traction.
In the near term, and according to the 4-hour chart, EUR/USD has lost its positive momentum, but the downside remains well-limited. The pair develops above a flat 20 SMA, which hovers at around 1.1410, while a bullish 100 SMA is about to cross above a flat 200 SMA in the 1.1310 price zone. In the meantime, technical indicators hold well-above their midlines, although the Relative Strength Index (RSI) indicator turned modestly lower, reflecting the latest intraday
EUR/USD corrects lower from the multi-week high it touched near 1.1500 with the immediate reaction to ECB President Lagarde's comments about the ECB getting to the end of the policy cycle. Growing optimism about improving US-China relations support the USD and cause the pair to lose its traction.
In the near term, and according to the 4-hour chart, EUR/USD has lost its positive momentum, but the downside remains well-limited. The pair develops above a flat 20 SMA, which hovers at around 1.1410, while a bullish 100 SMA is about to cross above a flat 200 SMA in the 1.1310 price zone. In the meantime, technical indicators hold well-above their midlines, although the Relative Strength Index (RSI) indicator turned modestly lower, reflecting the latest intraday
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.