EUR/USD remains depressed around intraday low, snaps three-week uptrend.EUR/USD remains indecisive around 1.0920, recently bouncing off the intraday low to pare the latest losses amid early Monday.
In doing so, the Euro pair portrays a U-turn from the 10-DMA support while defending the previous week’s hesitance in breaking the key horizontal hurdle from late January, around 1.0930. Even so, the EUR/USD pair remains sidelined after positing a three-week uptrend in the last.
Apart from the Euro pair’s inability to cross the 1.0930 hurdle, the receding bullish bias of the MACD and the RSI (14) line’s retreat also suggest a pullback in the EUR/USD price.
However, a daily closing below the 10-DMA support of 1.0890 becomes necessary for the intraday sellers of the pair. Following that, an upward-sloping support line from March 24, near 1.0850, becomes the last defense of the EUR/USD bulls.
Meanwhile, a daily closing beyond 1.0930 isn’t an open invitation to the EUR/USD bulls as the previous support line from mid-March, around 1.1015 by the press time, precedes the yearly high marked in January around 1.1035, to challenge further upside of the major currency pair.
In a case where EUR/USD remains firmer past 1.1035, the late March 2022 high near 1.1185 will be in focus.Overall, EUR/USD is well-set for a pullback but the Easter Monday holiday restricts the pair’s moves.
EUR/USD ranges around 1.0900 amid light trading
EUR/USD is keeping its range trade intact at around 1.0900, with most major European markets closed in observance of Easter Monday. The pair stays depressed amid a broadly firmer US Dollar, helped by hawkish Fed bets and renewed US-China tensions.
GBP/USD stays defensive around 1.2400 on Easter Monday
GBP/USD is trading on the back foot at around 1.2400, extending the previous week’s pullback from 10-month highs. A cautious mood and hawkish Fed bets support the US Dollar rebound amid the Easter Monday holiday.-thinned market conditions.
Gold bears seek re-entry near $1,990 as Easter Monday triggers USD rebound
Gold price trims intraday losses around $1,995 amid the Easter Monday holiday in major bourses. In doing so, the bullion bounces off the 200-bar EMA but remains mildly offered on a day.
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