EUR/USD Price Analysis: A drop below 1.0760 exposes further losses.

EUR/USD picks up further downside traction near 1.0750.

Losses could accelerate below the 3-month line near 1.0760.EUR/USD extends the corrective decline for the third consecutive session and flirts with the 1.0750 region at the beginning of the week.

A convincing breakdown of the 3-month support line around 1.0760 could open the door to extra weakness in the short-term horizon. Against that, there is an interim support at the 55-day SMA at 1.0655 prior to the 2023 low at 1.0481 (January 6).In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0318.

EUR/USD rebounds from session lows, stays below 1.0800

EUR/USD has managed to stage a modest rebound toward 1.0800 after having declined below 1.0760 earlier in the session. With US stock index futures trading in negative territory, however, the US Dollar manages to hold its ground and limits the pair’s recovery.

EUR/USD News

GBP/USD turns positive on the day above 1.2050

GBP/USD has regained its traction and turned positive on the day above 1.2050 after having dropped to 1.2020 in the European morning. While investors keep a close eye on headlines surrounding the EU-UK Northern Ireland Protocol negotiations, the risk-averse market atmosphere supports the US Dollar.

GBP/USD News

Gold retreats from session highs, holds above $1,870

Gold price has lost its recovery momentum and declined toward $1,870 in the European session. With the benchmark 10-year US Treasury bond yield building on last Friday’s gains and holding near 3.6%, XAU/USD struggles to gain traction.