EUR/USD Drops as Dollar Recovers: What to Expect in the Short-Term
EUR/USD is trading in a bullish trend within an ascending channel, but it faces some resistance near 1.1000 and some support near 1.0930. The pair’s direction will depend on how these levels are breached or defended.
Traders should also pay attention to the ECB vs Fed divergence, economic data releases, and risk sentiment factors that can influence EUR/USD.
A buy signal for EUR/USD could be triggered by a break above.
AUD/USD Price Analysis: Bears Remain in Control as Consolidation Continues
The AUD/USD pair is currently portraying a bearish consolidation below the key level of 0.6700, with the bears remaining in control. Downbeat oscillators suggest further downside momentum, and the bearish MACD signals indicate potential for further downside. However, if the buyers manage to break through key resistance levels, there is a possibility of short-term recovery.
Wall Street Ends Mixed, Earnings Reports and Economic Data in Focus
Wall Street closed with mixed results as the benchmark S&P 500 and Dow edged higher, while the Nasdaq dipped due to losses in tech stocks like Microsoft and Tesla. This week, investors will focus on a spate of earnings reports, including Alphabet, Microsoft, Amazon, and Meta Platforms, as well as economic data like the first estimate of Q1 GDP and the Personal Consumption Expenditures report. Meanwhile, U.S. Treasury yields fell, and the crypto industry experienced further tensions with the SEC. Learn more about the latest market movers and what to expect in the days ahead.