FxAnalysis

Bitcoin continues to look very weak and vulnerable at the moment.

Following Tuesday’s short-lasting recovery, EUR/USD moves sideways in a narrow channel above 1.1800 in the European morning on Wednesday. While investors await key data releases, the technical outlook points to a lack of seller interest.

Gold is extending the rebound from monthly lows above the $5,000 threshold in Asian trades on Wednesday, having booked the biggest daily gain since 2008.

Despite the sharp pullback seen recently, the broader EUR/USD story still looks intact. The pair continues to eye the area around the yearly highs near 1.2100, helped by a loss of momentum in the so-called “Warsh trade”.

Spot Gold managed to recover ground after falling sharply for two days in a row, trading well above the $4,900 mark in the American session on Tuesday. The US Dollar (USD) lost its recent momentum, although losses against other currencies are limited.

AUD/USD remains firmly within its broader upward trend, brushing off two consecutive daily declines as markets continue to digest the Reserve Bank of Australia (RBA)’s hawkish rate decision earlier in the day.