technical

EUR/USD has dropped below key technical levels following the Fed’s dovish pivot, with bearish momentum building ahead of the ECB rate decision and GDP data.

EUR/USD lost more than 0.4% on Wednesday and snapped a five-day winning streak. The pair holds steady and trades slightly above 1.1600 in the European morning on Thursday as investors await the European Central Bank’s (ECB) monetary policy announcements.

Gold is once again attempting a bounce above $3,900 as buyers try their luck for the third consecutive day in Asian trading this Thursday.  

EUR/USD snapped its winning streak on Wednesday, pulling back sharply to revisit the 1.1580–1.1570 area, its lowest in two weeks.

Spot Gold recovered the $4,000 mark after bottoming at $3,886.62 earlier in the week, but is currently hovering around the $4,000 mark.

The Australian Dollar (AUD) kept heading north on Wednesday, with AUD/USD breaking above the key 0.6600 mark and touching fresh three-week highs.