EUR/USD 1.18776
-0.020%
Gold 5080.64
1.402%
Oil 60.345
-0.647%
USD/JPY 154.507
0.192%
GBP/USD 1.36839
0.045%
GBP/JPY 211.432
0.249%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hong Kong-listed coal stocks declined, with Jiahe Holdings (00704.HK) and Green Leader Holdings (00061.HK) falling more than 8%, Shougang Resources (00639.HK) down 3.56%, and Yankuang Energy (01171.HK) and Mongolia Energy (00276.HK) down nearly 3%.Hong Kong-listed insurance stocks continued to rise in the afternoon, with China Life (02628.HK) extending its gains to 5%, AIA (01299.HK) rising over 4%, and China Pacific Insurance (02601.HK) and Peoples Insurance Company of China (01339.HK) rising over 3%.Hong Kong-listed semiconductor stocks rallied again in the afternoon, with Shanghai Fudan (01385.HK) up 6.79%, Naxin Microelectronics (02676.HK) up over 5%, and GigaDevice (03986.HK) and Chipwise Holdings (02166.HK) up over 4%.On January 27th, Michael Krutzberg, Chief Investment Officer of Public Markets at Allianz Global Investors, stated that with the exception of dovish Governor Milan, who may have objections, the Federal Reserves decision to maintain interest rates this week is expected to receive support from all other voting members. In a report, he noted that since this meeting will not update the summary of economic projections or the dot plot, market focus will shift to the extent to which Chairman Powell will respond to the current challenges to the Feds independence posed by executive power. Krutzberg believes that Powells comments on this issue at the press conference may have a greater impact on the market than the interest rate decision itself—especially any hints regarding his plans to remain on the board until 2028 after his term as chairman ends in May.The CEO of Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates said that oil demand will remain above 1 billion barrels per day from now until 2040.

The EUR/USD Price Analysis Is Supported By Rebounds From 1.0840-45

Alina Haynes

Apr 11, 2023 14:37

EUR:USD.png 

 

On Tuesday morning, the EUR/USD reaches a new intraday peak near 1.0880 as bulls attempt to regain control following a two-day downtrend. Consequently, the Euro-U.S. dollar pair recovers after the convergence of the 100-day simple moving average and a two-week-long ascending support line.

 

However, the recovery movements of the major currency pair remain elusive unless the quote remains below the 13-day-old horizontal resistance area surrounding 1.0930.

 

A one-week-old descending trend line near 1.0900 is protecting the EUR/USD pair's near-term upside at press time.

 

In the event that the EUR/USD pair maintains strength above 1.0930, the 1.0975 monthly high may serve as the last line of defense for pair sellers before pushing the price to February's high of 1.1033.

 

Alternately, a breach of the 1.0840-45 support confluence would drive the price to the 1.0788 monthly low without hesitation.

 

Future EUR/USD skeptics may be challenged by the 50% and 61.8% Fibonacci retracement levels of the pair's March-April upswing, respectively near 1.0745 and 1.0690.

 

To restore market confidence, supporters of the EUR/USD must surpass 1.0930. The quote remains on the bears' radar despite the fact that 1.0845-40 limits the near-term decline.


Suggestion