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EUR/USD Price Analysis: The main challenge is the 55-day SMA

  • EUR/USD is hovering around the 55-day SMA near 1.1090.
  • Key support is located around 1.1070/60.

EUR/USD’s decline met decent contention in the proximity of 1.1070. This area of support is also reinforced by the 100-day SMA and the 3-month support line in the 1.1060/65 region.

The offered bias in the spot should alleviate somewhat above the 55-day SMA, today at 1.1091.

Further south emerges the 1.1040 area, early December lows.

EUR/USD daily chart

 

Mexico 1st half-month Core Inflation came in at 0.2%, above forecasts (0.19%) in January

Mexico 1st half-month Core Inflation came in at 0.2%, above forecasts (0.19%) in January
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Gold Price Analysis: Bears challenge 100-period SMA support on 4-hourly chart

Gold failed to capitalize on the overnight intraday bounce and started retreating from the vicinity of a one-week-old ascending trend-channel support
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