EUR/USD reverses gear and plummets to the parity region.The loss of that level could expose the YTD low at 0.9863.EUR/USD sharply reverses the recent advance and rapidly drops to revisit the vicinity of the psychological parity level on Tuesday.
The continuation of the retracement threatens to breach that important area of contention and pave the way for a potential challenge of the 2022 low at 0.9863 (September 6).In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0748.
EUR/USD drops below part as dollar rally continues
EUR/USD extended its daily slide and dropped below parity during the American session on Tuesday. The dollar continues to gather strength following the hot August inflation data. Additionally, the intense flight to safety provides an additional boost to the greenback.
GBP/USD continues to push lower toward 1.1500
GBP/USD suffered large losses and continued to fall toward 1.1500 during the American trading hours on Tuesday. The data from the US showed that the annual Core CPI jumped to 6.3% in August from 5.9% in July, triggering a strong dollar rally.
Gold closes in on $1,700 on surging US yields
After having dropped below $1,700, gold staged a rebound but failed to gather momentum. With the benchmark 10-year US Treasury bond yield rising more than 2% on the day above 3.4%, XAU/USD came under renewed bearish pressure and started to push lower toward $1,700.
Ethereum bulls fold before the Merge, but this is why ETH price pullback isn’t a bad thing
ETH is giving up on its bid for a pre-Merge rally amid concerns over rising inflation. The token exchanges hands slightly above $1,600, with losses expected to close below the same level today. This pullback might give investors another chance to catch an anticipated Merge-triggered bullish breakout.