EUR/USD sellers maintain the pressure and look to pierce 0.9900. The dollar collected momentum in advance of the discharge of US information as traders struggled to discover desirable news. Recent macroeconomic figures trace at an accelerating international financial downturn, exacerbated via way of means of the Ukraine conflict main to shortages and chronic inflationary pressures.
The dollar retained profits following the discharge of a combined July Durable Goods Orders report, because the headline analyzing remained pat, lacking expectancies of a 0.6 vance. Nevertheless, the center studying, Nondefense Capital Goods Orders ex Aircraft, rose via way of means of 0.4% withinside the month, higher than the 0.3% predicted.
Stronger authorities bond yields underpin the greenback. The yield at the 10-year Treasury notice stands nicely above 3%, whilst the yield curve stays inverted. Stocks markets, withinside the meantime, stay below pressure, with US indexes aiming to open close to their latest lows.
EUR/USD short-time period technical outlook
The EUR/USD trades withinside the 0.9920 rate zone, poised to increase its decline to clean lows after Tuesday’s corrective advance. The every day chart suggests that the Momentum indicator heads firmly south, properly under its midline, whilst the RSI indicator is neutral-to-bearish at round 32. At the identical time, the 20 SMA is popping south, under the longer shifting averages and over two hundred pips above the modern level.
The 4-hour chart suggests that a firmly bearish 20 SMA presents dynamic intraday resistance whilst reflecting continual promoting interest. The 100 and 200 SMAs stay a long way above the shorter one and benefit bearish traction, additionally reflecting improved bearish strength. Technical signs keep inside bad levels, missing clean directional strength. A steeper decline ought to be predicted on a smash under 0.9880, a robust static help level.