- The euro is quoted on Wednesday, but is still trapped within the weekly range.
- Doubts on a commercial agreement between the Eurozone and the US are weighing on the common currency.
- Technical indicators show a lateral consolidation above 0.8600.
The euro is quoted with a moderate bearish bias on Wednesday, although even within the rank of the last days. The lack of advances in commercial negotiations with the US is weighing on the common currency, although the positive comments of European negotiators keep the hopes of a commercial agreement alive.
German Chancellor Friedrich Merz reiterated this morning that he is confident of reaching an agreement with the US before the deadline of August 1, but US President Trump said he will send a letter of tariffs to the Eurozone this week.
Commercial uncertainty is affecting the euro more severely than the pound, since the United Kingdom assured an agreement, although modest, in June.
Technical analysis: EUR/GBP could have reached a maximum at 0.8665
From a technical point of view, a look at the four -hour chart shows a mixed image, with the relative force index (RSI) fluctuating around 50, showing a clear lack of impulse. In a broader perspective, the recent price action suggests that the PAR completed a 5 -wave bullish cycle and is now in an ABC correction.
However, the torque needs to break the level of 0.8600 (minimum of July 7) to confirm this vision and extend its correction towards the area of ​​0.8550 – 0.8560, where the minimum of July 1 is found with the fibonacci setback of 38.2% of the June -July rally, and a possible technical soil for a bearish reversion.
On the positive side, the maximums of July 4 and 7 in the 0.8640 area are closing the road to the maximum of July 2, at 0.8665. A confirmation above here cancels this vision and displaces the approach to the maximum of the year to date, at 0.8740.
Euro price today
The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the strongest currency against the Canadian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.18% | 0.03% | 0.06% | 0.28% | 0.08% | 0.14% | -0.03% | |
| EUR | -0.18% | -0.13% | -0.12% | 0.11% | -0.06% | -0.04% | -0.09% | |
| GBP | -0.03% | 0.13% | 0.06% | 0.25% | -0.00% | 0.04% | -0.05% | |
| JPY | -0.06% | 0.12% | -0.06% | 0.18% | 0.00% | 0.06% | -0.09% | |
| CAD | -0.28% | -0.11% | -0.25% | -0.18% | -0.14% | -0.13% | -0.18% | |
| Aud | -0.08% | 0.06% | 0.00% | -0.01% | 0.14% | 0.02% | -0.02% | |
| NZD | -0.14% | 0.04% | -0.04% | -0.06% | 0.13% | -0.02% | -0.08% | |
| CHF | 0.03% | 0.09% | 0.05% | 0.09% | 0.18% | 0.02% | 0.08% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
