EUR/USD skids back below 1.1800 handle

Haresh Menghani FXStreet

• Reports that Savona will lead Italian economy ministry prompts some aggressive selling.
• Downside remains limited amid a follow-through USD slide and oversold conditions.

The EUR/USD pair faded an early European session bullish spike and quickly retreated around 50-pips from to an intraday high level of 1.1830.

The pair initially was seen building on its overnight recovery move from 6-month lows and benefitted from the ongoing US Dollar profit-taking slide. The up-move, however, ran out of steam, with continued political uncertainty in Italy capping additional gains.

The latest leg of sharp fall over the past hour or so could be news reports that Paolo Savona, an 81-year-old economist and former minister with Euro-skeptic views, will be designated the Minister of the Economy and Finance.

The downfall, so far, has been limited and the pair has managed to hold its neck above an intraday low level of 1.1756, touched earlier during the Asian session. Moreover, near-term oversold conditions also seemed to hold traders back from placing aggressive bets ahead of Wednesday's important releases, including the flash version of Euro-zone PMI prints and the latest FOMC meeting minutes.

Technical levels to watch

Bulls might try and defend immediate support near mid-1.1700s, below which the pair is likely to slide back towards retesting the 1.1710-1.1700 important support. On the upside, any meaningful up-move back above the 1.1800 handle is likely to confront strong resistance near the 1.1840-50 supply zone, which if cleared could assist the pair to dart back towards reclaiming the 1.1900 round figure mark.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD consolidates around 1.0900, bullish bias remains ahead of key US data

The EUR/USD pair is seen consolidating its strong gains registered over the past two days and oscillating in a narrow band during the Asian session on Tuesday. Spot prices currently trade around the 1.1900 mark, just below an over one-week high touched the previous day.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold: Will US Retail Sales data propel it above $5,100?

Gold hovers below weekly highs of $5,087 early Tuesday, await US Retail Sales data. The US Dollar enters a downside consolidation phase amid persistent Japanese Yen strength and worsening labor market. Gold settled Monday above $5,000, now looks to take out $5,100 amid bullish daily RSI.

Top Crypto Gainers: World Liberty Financial, MemeCore and Quant gain momentum

World Liberty Financial, MemeCore, and Quant are leading gains over the last 24 hours as the broader cryptocurrency market stabilizes after last week’s correction. Still, the technical outlook for altcoins remains mixed due to prevailing downside pressure and vulnerable market sentiment.

The market is buying everything again but is it dancing on a borrowed floor

The market has a short memory and a fast trigger finger. Last week’s liquidation barely cooled before risk came roaring back, pushing the S&P toward record territory and reinstalling Big Tech as the engine of choice. This is not discovery. It is re exposure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.