EUR/USD looks under pressure near the monthly lows.The resistance line around 1.0915 keeps capping the upside.
EUR/USD extends the side-lined trade and remains close to the February lows.
If sellers regain the upper hand, pair could slip back to the February low at 1.0612 (February 17) in the near term. The breach of this level could see a potential test of the 2023 low at 1.0481 (January 6) emerge on the horizon.
So far, extra losses remain on the cards as long as the 3-month resistance line, today near 1.0915, caps the upside.In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0329.
EUR/USD holds steady near 1.0650 ahead of Fed Minutes
EUR/USD has managed to rebound to the 1.0650 area after having declined below 1.0630 earlier in the day. The cautious market mood helps the US Dollar hold its ground mid-week as investors wait for the Fed to release the minutes of the year’s first policy meeting.
GBP/USD gains traction, recovers above 1.2100 area
GBP/USD has regained its traction and climbed above 1.2100 heading into the American session, erasing its daily losses in the process. Markets remain choppy as investors keep a close eye on global bond yields. FOMC Minutes will be looked upon for fresh impetus later in the day.
Gold climbs above $1,840 as US yields edge lower
Gold price has gathered bullish momentum and turned positive on the day above $1,840. Following Tuesday’s rally, the benchmark 10-year US Treasury bond yield edged lower toward 3.9%, allowing XAU/USD to stretch higher. FOMC Minutes coming up next.
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