EUR/USD remains flat near 1.1600 as bullish momentum fades, with traders eyeing Lagarde’s speech and key economic data for direction amid rising rate cut expectations.
The AUD/USD pair prolongs a nearly two-week-old uptrend and climbs closer to the 0.6600 mark, or its highest level since late October, during the first half of the European session on Wednesday.
EUR/USD holds its ground and rises to the 1.1650 region in the European morning on Wednesday, after closing in positive territory on Monday and Tuesday. The pair’s technical picture confirms the bullish bias in the near term.
Gold is back in the green above $4,200 early Wednesday, following a temporary pullback on Tuesday, as buyers refuse to give up heading into the top-tier US ADP Employment Change and US ISM Services PMI data releases.
EUR/USD struggles for direction just above the 1.1600 barrier on turnaround Tuesday, navigating a narrow range in a context of a mild bounce in the US Dollar (USD).
EUR/USD holds near 1.1610 at the time of writing on Tuesday, remaining broadly steady on the day. The pair has preserved the gains recorded earlier this week, supported by easing risk aversion despite mixed signals from the Eurozone.