EUR/USD Price Analysis: Remains stable near 1.0930, bearish sentiment looms

EUR/USD moves sideways post recent losses amid a stable US Dollar.
The major level at 1.0950 appears to be an immediate resistance level.
A break below the 1.0900 could lead the pair to navigate the 50-day EMA at 1.0888.

Akhtar Faruqui FXStreet

EUR/USD consolidates after posting recent losses in the previous session, trading near 1.0930 during the Asian session on Wednesday. The EUR/USD pair could meet the barrier at the major level at 1.0950 following the psychological resistance area at 1.1000.

A breakthrough above the psychological level could support the EUR/USD pair to revisit the previous week’s high at 1.1038 level. However, the 14-day Relative Strength Index (RSI) for the EUR/USD pair has dropped below the 50 mark, signaling a bearish momentum.

In addition, the Moving Average Convergence Divergence (MACD) line, while still above the centerline, is showing divergence below the signal line, hinting at a potential shift toward a downward trend. Traders may exercise caution and await confirmation before making decisions in the pair.

On the downside, the EUR/USD pair could meet immediate support at the psychological level of 1.0900. If this level is breached decisively, it could exert downward pressure on the pair, potentially leading it toward the 50-day Exponential Moving Average (EMA) at 1.0888, followed by the 38.2% Fibonacci retracement level at 1.0867 and significant support at 1.0850. Traders may closely monitor these levels for potential price movements.

EUR/USD: Daily Chart

EUR/USD: other technical levels to watch

Overview
Today last price	1.0931
Today Daily Change	0.0003
Today Daily Change %	0.03
Today daily open	1.0928

Trends
Daily SMA20	1.0978
Daily SMA50	1.0878
Daily SMA100	1.0764
Daily SMA200	1.0847

Levels
Previous Daily High	1.0966
Previous Daily Low	1.091
Previous Weekly High	1.1046
Previous Weekly Low	1.0877
Previous Monthly High	1.114
Previous Monthly Low	1.0724
Daily Fibonacci 38.2%	1.0932
Daily Fibonacci 61.8%	1.0945
Daily Pivot Point S1	1.0904
Daily Pivot Point S2	1.0879
Daily Pivot Point S3	1.0848
Daily Pivot Point R1	1.0959
Daily Pivot Point R2	1.0991
Daily Pivot Point R3	1.1015

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.