EUR/USD steadies after finding support in the low 1.07s. The pair could see another leg higher on a break past 1.0785, economists at Scotiabank report.EUR to remain firm on minor dips
“The short-term charts retain a bearish look after the EUR’s tumble from last week’s high. But spot has steadied around the 50% retracement of the EUR rally from 1.05 around the middle of the month and underlying trend dynamics remain EUR-bullish on the longer term oscillators.This should mean dips remain well-supported.”
“EUR gains back through 1.0785 will give spot a bit more lift.”“Key resistance is 1.0930 – last week’s high.”
EUR/USD holds steady above 1.0750 on improving risk mood
EUR/USD continues to trade above 1.0750 on Monday. The data from Germany showed that IFO Business Climate Index improved to 93.3 in March from 91.1 in February, helping the Euro stay resilient against the US Dollar. The risk-positive atmosphere further supports the pair.
GBP/USD regains 1.2250, Bailey speech eyed
GBP/USD clings to modest gains above 1.2250 on improving risk mood on Monday. The US Dollar struggles to gather strength despite rising US Treasury bond yields. In the absence of high-impact data releases, investors will pay close attention to BOE Governor Bailey’s speech.
Gold extends slide to $1,950 as US yields rebound
Gold price has extended its daily slide to the $1,950 area in the European session. Amid easing fears over a global banking crisis, the benchmark 10-year US Treasury bond yield rebounds toward 3.5% on Monday, weighing heavily on XAU/USD.
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