EUR/USD needs to hold key support at 1.0483/63 to avoid a top.

EUR/USD stays on course for a test of key price & 38.2% retracement support at 1.0483/63 which needs to hold to avoid a top, analysts at Credit Suisse report.Break above 1.0806 remains needed to reassert an upward bias

“EUR/USD is seen on course to break its 1.0532 recent low for a test of key support from the 38.2% retracement of the 2022/2023 rally and early January YTD low at 1.0483/63 and our bias remains for this to hold for a broad range.” 

“Below 1.0463 would now warn of a ‘head & shoulders’ top and a potentially more significant downturn, although we would still need to see the 200-DMA at 1.0328 removed to suggest this is indeed the case for support next at 1.0223/1.0198.”“Above 1.0806 remains needed to reassert an upward bias for strength back to the 50% retracement of the 2021/2022 fall at 1.0944.”

EUR/USD remains pressured below 1.0550 amid Powell-led USD strength

EUR/USD consolidates near two-month lows below 1.0550, extending the previous downside in early Europe. The pair remains weighed down by Fed Chair Powell’s hawkish rhetoric-led broad-based US Dollar strength and disappointing Retail Sales data from Germany.


GBP/USD stays vulnerable below 1.1850 amid stronger US Dollar

GBP/USD is holding steady below 1.1850, licking its wounds near 2023 lows in the early European morning. Hawkish Fed Chair Powell’s comments-led risk aversion is limiting the upside in the pair amidst broadly stronger US Dollar and Treasury yields. US data awaited. 


Gold struggles near one-week low amid hawkish Federal Reserve

Gold prices bounces off over a one-week low touched earlier this Wednesday and steadily climbs to the $1,815 region during the first half of the European session.

<a href=”;c=503446″><img src=”; width=”120″ height=”600″ /></a>