EUR/USD keeps the erratic activity well in place this week.The 1.0670/80 band continues to cap the upside so far.
EUR/USD resumes the upside bias past the 1.0500 mark following Thursday’s decent pullback.So far, and as long as the 4-month line in the 1.0670/80 band limits the upside, extra pullbacks in the pair should remain on the cards in the near term. The surpass of this area, however, could spark a bull run to the June top at 1.0773 and the May peak at 1.0786.
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1136.
EUR/USD loses traction, declines toward 1.0500 ahead of US data
EUR/USD has lost its bullish momentum after having climbed above 1.0550 earlier in the day. Cautious comments from ECB policymakers on the growth outlook seem to be weighing on the shared currency. Investors await New Home Sales data from the US.
EUR/USD News
GBP/USD retreats from 1.2300 as dollar gathers strength
GBP/USD has reversed its direction after having advanced beyond 1.2300 earlier in the day and retreated toward the 1.2250 area. The renewed dollar strength ahead of mid-tier data releases from the US seems to be causing the pair to push lower.
GBP/USD News
Gold stays below $1,830 as US yields rebound
Gold is having a difficult time staging a convincing rebound on Friday and continuing to trade below $1,830. Ahead of the US data, the benchmark 10-year US Treasury bond yield is up 1% on the day, limiting XAU/USD’s upside for the time being.
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