EUR/USD comes under pressure but remains bolstered by 1.0800.Next on the upside emerges the key barrier at 1.0900 the figure.EUR/USD fades the initial test of the 1.0860 region and returns to the negative territory on Friday.
Extra range bound mood looks likely for the time being, while the surpass of the so far YTD top at 1.0887 (January 18) should rapidly allow a move to the round level at 1.0900.
While above the short-term support line near 1.0620, extra gains should remain in store for the pair.In the longer run, the constructive view remains unchanged while above the 200-day SMA at 1.0307.
EUR/USD keeps range near 1.0850 after Lagarde
EUR/USD is holding onto minor gains while trading below 1.0800 in European trading. ECB’s Lagarde reiterates that the central bank will stay the course with rate hikes. The US Dollar attempts a bounce alongside the US Treasury bond yields, despite a better risk profile.
GBP/USD drops to 1.2350 after weak UK data
GBP/USD is holding lower ground near 1.2350, undermined by the downbeat UK Retail Sales data and a broad US Dollar rebound. Cable fails to capitalize on the return of risk flows, as traders reposition ahead of China’s Lunar New Year holidays.
Gold consolidates around $1,930, Fedspeak eyed
Gold price refreshed nine-month highs above $1,935 in European trading. The uptick in US Treasury yields is capping Gold’s upside amid the subdued US Dollar. Upside bias remains intact for Gold price amid a bullish daily technical setup.