EUR/USD falls again under the 200-hour transferring common
The shortcoming to maneuver in direction of a break of the 1.1400 is proving to be a key failure for consumers on the day. Value retraced again in direction of the 200-hour MA (blue line) thereafter after which information got here in that auto tariffs are reportedly set to hit earlier than Christmas. That was sufficient for sellers to drive value again under the 200-hour MA, thus breaking the near-term bullish bias within the pair.
With the greenback holding its personal regardless of the autumn in Treasury yields, it is wanting increasingly more just like the “Powell put” is just not prone to have an enduring impression on markets. There was a slight dovish tilt little question, however it’s not precisely a transparent minimize sign that the Fed will likely be pausing any time quickly. I reckon market individuals will likely be extra satisfied of that if the minutes begin to trace at one thing comparable.
For EUR/USD, value now appears to be transferring again in direction of the resistance area round 1.1340-50 earlier than the 100-hour MA (purple line) @ 1.1331 comes into the image. The latter will likely be a key degree to be careful for in US buying and selling as a break under that might see sellers set up a near-term bearish bias as soon as once more.
It is nonetheless a bit early to name for a reversal simply but however the indicators are wanting up for the greenback because the hours go by. Nonetheless, be cautious of the transfer in Treasury yields as that might nonetheless have a extra materials impression on markets and the greenback later within the day.