EUR/USD to enjoy further gains toward 1.07, potentially 1.08.

EUR/USD has had a solid advance on the day as the pair rebounds from sub-1.06 levels. Economists at Scotiabank analyze the EUR technical outlook.Major resistance is seen at 1.08

“Short-term EUR trading patterns lean bullish after the drift from yesterday’s high in the mid-1.06s found solid support overnight around 1.0580.” 

“Gains through the mid-1.06s target additional EUR gains towards 1.07 potentially.”“We spot major resistance at the 1.08 level.”

EUR/USD pushes higher toward 1.0700 after German inflation data

EUR/USD has preserved its bullish momentum and extended its daily rally toward 1.0700 in the early American session on Wednesday. The data from Germany showed that annual HICP inflation climbed to 9.3% in February, surpassing the market expectation of 9%.

EUR/USD News 

GBP/USD clings to modest gains near 1.2050

GBP/USD continues to trade in positive territory at around 1.2150 after having advanced toward 1.2100 earlier in the day. Ahead of the ISM Manufacturing PMI from the US, the risk-positive market environment doesn’t allow the US Dollar to find demand and supports the pair.

GBP/USD News 

Gold price holds above $1,830, eyes on US data

Gold price stays in positive territory above $1,830 on Wednesday, supported by the upbeat risk mood. The benchmark 10-year US Treasury bond yield stays relatively quiet near 3.95% and allows XAU/USD to stretch higher as investors await US ISM PMI report.

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