The EUR/USD pair traded near the 1.1200 zone on Wednesday after the European session, reflecting a cautiously bullish tone as the market approaches the Asian session. Price action remains within the middle of its daily range, indicating balanced sentiment despite a mixed technical backdrop. While shorter-term momentum indicators signal caution, the broader trend remains supported by longer-term averages, providing a foundation for further upside if recent gains hold. From a technical standpoint, the pair presents a complex picture. The Relative Strength Index hovers around 40, reflecting...
The AUD/USD pair is trading near the lower end of its daily range, reflecting a mixed technical outlook. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, has dipped toward the 100.60 area, pressured by soft US inflation data and speculation about a possible dovish shift from the Federal Reserve (Fed). US officials recently downplayed speculation about a deliberate dollar-weakening strategy, but concerns persist as trade discussions with South Korea suggest room for stronger local currencies. This uncertainty has contributed to...
EUR/USD trimmed momentum sharply on Wednesday, sticking to a flat holding pattern near the 1.1200 handle despite an early pop in bids. European economic data has been largely a non-starter this week, as is typical. However, a one-two punch of key inflation data from the United States (US) has given plenty of traders something to chew on. German final Harmonized Index of Consumer Prices (HICP) for April came in exactly as expected on Wednesday, and data on the US side was strictly mid-tier, giving markets some breathing space between this week's Consumer Price Index (CPI) inflation data...