Abstract:EUR/USD bulls take a breather around 1.0990 amid the initial hours of the European session on Thursday, after refreshing a 10-week top earlier in the day.
• EUR/USD grinds near intraday low after refreshing 2.5-month high.
• Overbought RSI backs Euro pairs pullback from three-week-old resistance line.
• Previous weekly top restricts immediate downside, 1.0860 is the key support.
EUR/USD bulls take a breather around 1.0990 amid the initial hours of the European session on Thursday, after refreshing a 10-week top earlier in the day.
In doing so, the Euro pair takes a U-turn from an ascending resistance line from March 23 while justifying the overbought RSI conditions. However, bullish MACD signals and multiple levels towards the south keep the quote buyers hopeful.
That said, the previous weekly top surrounding 1.0970 appears immediate support for the EUR/USD bears to watch during further downside.
However, the weekly support line and the 200-Hour Moving Average (HMA), respectively near 1.0950 and 1.0910, could challenge the EUR/USD sellers afterward.
In a case where the EUR/USD bears dominate past 1.0910, the 1.0900 round figure and an upward-sloping support line from March 24, close to 1.0860 by the press time, will be the last defense of the pair buyers.
On the flip side, recovery moves need to cross the aforementioned three-week-long resistance line, near 1.1010 at the latest, to recall the EUR/USD bulls.
Even so, the yearly high marked in February around 1.1035 could challenge the Euro pairs further upside before directing the buyers towards the late March 2022 peak of around 1.1185.
Overall, EUR/USD remains on the bulls radar despite the latest retreat.
EUR/USD: Hourly chart
The yen's breakout above the 140 mark has caught global attention, and the reasons behind it are more than technical.
The Financial Industry Regulatory Authority (FINRA) has imposed a $300,000 fine on SpeedRoute LLC for a series of supervisory, risk management, and anti-money laundering (AML) program deficiencies spanning from 2017 to the present. Of this amount, $75,000 is payable to FINRA, with the remainder offset by SpeedRoute’s limited ability to pay. In addition to the monetary penalty, SpeedRoute has been censured and ordered to overhaul its compliance framework, including enhancing its written supervisory procedures (WSPs) for market access controls and strengthening its AML program.
Despite being rich in oil, Nigeria struggles with refining shortages. What’s behind this paradox, and how are different actors reacting?
Silver has once again become the center of attention in global financial markets.