Fundamental

India is the world’s fastest-growing major economy. That alone should be enough for investors to support the currency. So what is holding back the Rupee?

After fluctuating in a relatively wide range at the beginning of the week, EUR/USD edged lower on Tuesday but managed to find support. The pair was last seen trading moderatly higher on the day, at around 1.1800.

The EUR/USD exchange rate remained in a tight range at the key support level at 1.1800 after the US released key macro data. It has slipped substantially from the year-to-date of 1.2095.

Gold is gathering pace to regain the $5,200 level early Wednesday, as buyers fight back control amid a broadly weaker US Dollar (USD) and looming trade and geopolitical risks.

After EUR/USD couldn’t break through the February highs above 1.1900, it looks to have entered a period of consolidation, with prices settling around or just below the 1.1800 level. As long as the critical 200-day SMA around 1.1650 keeps the price from going down, further gains should be on the way.

AUD/USD has been having trouble finding its way again in the previous few days after it hit fresh highs of around 0.7150 earlier this month.