EUR/USD drops to fresh lows closer to 1.1300

The pair loses further ground and threatens 1.1300.
The greenback stays firm just below the key 97.00 handle.
Retail Sales and the Empire State manufacturing index coming up next.

Pablo Piovano FXStreet

The buying interest around the greenback keeps adding pressure to EUR/USD, dragging it to fresh 13-month lows near 1.1300 the figure.

EUR/USD looks to US calendar

Spot is now resuming the downside following another knee jerk in the EM FX space, where the Turkish Lira is giving away part of its daily gains after the Turkish court ruled out another appeal for the release of US pastor A.Brunson and the US sanctions kick in.

In addition, and still in the EM universe, the South African Rand, the Ruble and the Mexican Peso have reverted the initial optimism and are now trading in fresh daily lows.

Looking ahead, spot should be in centre stage in light of the upcoming publication of US July’s Retail Sales and the regional manufacturing gauge measured by the Empire State.

EUR/USD levels to watch

At the moment, the pair is down 0.23% at 1.1319 facing the next support at 1.1310 (2018 low Aug.15) seconded by 1.1300 (psychological level) and then 1.1188 (61.8% Fibo of 2017-2018 up move). On the upside, a breakout of 1.1360 (200-week SMA) would aim for 1.1494 (10-day SMA) and finally 1.1591 (21-day SMA).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD retreats below 1.1800 following earlier rebound

EUR/USD loses its recovery momentum and trades little-changed on the day below 1.1300 in the second half of the day on Wednesday. The modest improvement seen in risk mood limits the US Dollar's gains and allows the pair to hold its ground.

GBP/USD clings to small gains above 1.3500

GBP/USD is posting moderate gains above 1.3500 on Wednesday. The pair edges higher as the US Dollar meets fresh supply amid a modest improvement seen in risk sentiment following US President Donald Trump’s first State of the Union address.

Gold rises toward $5,200, supported by geopolitics and trade jitters

Gold buyers are back in the game, eyeing $5,200 and beyonf on Wednesday after seeing a correction from monthly highs on Tuesday. The US Dollar slips after Trump’s SOTU fails to impress and as AI-driven worries ease. Dovish Fed bets also weigh. Gold looks north so long as the key 61.8% Fibo resistance at $5,142 holds on the daily chart.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

Nvidia remains at the heart of the AI boom

Nvidia remains at the heart of the AI boom, with Q4 revenue projected near $65.6–66.1 billion, nearly 70% higher year-over-year. But investors are watching cash flow, leverage, and broader AI adoption. Growth is strong, but the AI stress isn’t over.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.