Key Highlights
- EUR/USD regained traction and climbed toward the 1.1580 resistance.
- A bullish trend line is forming with support near 1.1535 on the 4-hour chart.
- Gold could start another increase and clear the $4,440 resistance.
- GBP/USD seems to be eyeing an upside break above the 1.3555 resistance.
EUR/USD Technical Analysis
The Euro remained supported above 1.1500 against the US Dollar. EUR/USD started another increase above the 1.1550 resistance zone.
Looking at the 4-hour chart, the pair tested the 1.1580 resistance. It settled well above the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour). On the upside, the pair is now facing a major hurdle at 1.1580.
The next major resistance might be 1.1620. A close above 1.1620 could start another steady increase. In the stated case, the bulls could aim for a move to 1.1685.
Any further gains might open the door for a test of 1.1750. If there is a fresh decline, the pair might find bids near 1.1535. There is also a bullish trend line forming with support at 1.1535. The next major support could be near 1.1500 and the 100 simple moving average (red, 4-hour).
The main support might be 1.1460 and the 200 simple moving average (green, 4-hour). A downside break and close below 1.1460 might send the pair toward 1.1420. Any more losses could open the door for a test of 1.1350.
Looking at Gold, the bulls are active again, and they could aim for a move above the $4,440 and $4,450 resistance levels.
Upcoming Key Economic Events:
- ECB’s Lane speech.
- NY Empire State Manufacturing Index for August 2026 – Forecast 10.2, versus 15.6 previous.
