Analyzes

The EUR/USD pair fell towards the 1.1600 level during European trading hours on Wednesday, as demand for the US Dollar (USD) continues on the back of a dismal market mood.

The USD/JPY pair prolongs its weekly uptrend for the third consecutive day and climbs to its highest level since February 17 on Wednesday amid a combination of supporting factors.

EUR/USD remains on the back foot in the European session on Wednesday and trades below 1.1650 after losing about 0.5% on Tuesday. The technical outlook suggests that sellers are likely to retain control in the near term.

EUR/USD stayed on the back foot on Tuesday, adding to Monday’s pessimism and testing support in the mid-1.1600s.

Gold captures the key $4,000 barrier for the first time in history early Wednesday as the explosive record run remains uninterrupted.

Amid strong selling pressure, euro trading has witnessed a sharp decline amid political unrest in Europe and Asia. According to reliable trading platforms, the EUR/USD exchange rate has fallen towards the 1.1600 support level, the lowest level for the currency pair in more than a month. Currently, foreign exchange market analysts warn that French government…