Spreads
Spreads
Spreads
Spreads
Spreads
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
EUR/USD Hits Lowest Since March Amidst Euro’s Decline and ECB’s Inflation Control Efforts
The EUR/USD pair broke below 1.0630, plummeting to 1.0574, marking its lowest point since March. This decline represents the Euro’s fifth consecutive daily loss, primarily due to a strong US Dollar and European Central Bank (ECB) President Christine Lagarde’s commitment to maintaining elevated interest rates for inflation control. Meanwhile, the US Dollar Index reached levels above 106.00, supported by higher US Treasury yields, reaching its highest point since March. US economic data released showed mixed results, with attention turning to housing prices, consumer confidence, and New Home Sales in the upcoming schedule.
According to technical analysis, the EUR/USD moved in high volatility on Monday and was able to reach the lower band of the Bollinger Bands. This movement suggests the possibility of further lower movement. The Relative Strength Index (RSI) is currently at 31, indicating that the EUR/USD is in bearish sentiment.
Resistance: 1.0635, 1.0687
Support: 1.0565, 1.0523
XAU/USD Faces Selling Pressure Above $1,900 Amid Stronger USD and Rising Treasury Yields
Gold is struggling to maintain its value above $1,900 as it faces selling pressure during the early Asian session. The stronger US Dollar, with the Dollar Index reaching its highest level since November, and rising Treasury yields have contributed to this downward pressure. Technical indicators favor a bearish outlook for XAU/USD, with support at $1,915 and a potential downtrend if it breaks lower. The recent strength of the US Dollar, supported by a strong US economy and elevated Treasury yields, continues to impact the price of Gold as market participants await key US consumer inflation data.
According to technical analysis, XAU/USD moved lower on Monday and was able to move near the lower band of the Bollinger bands. Currently, the price is moving slightly above the lower band showing a potential of moving back higher. The Relative Strength Index (RSI) is currently at 38, indicating that the XAU/USD pair is in a neutral stance with a slight bear bias.
Resistance: $1,920, $1,930
Support: $1,913, $1,903
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
