EUR/USD Analysis Summary Today

• Overall Trend: Bullish
• Today’s EUR/USD Support Levels: 1.1370 – 1.1300 – 1.1220
• Today’s EUR/USD Resistance Levels: 1.1470 – 1.1520 – 1.1600

EUR/USD Trading Signals:

• Buy EUR/USD from the support level of 1.1340 with a target of 1.1420 and a stop-loss at 1.1300.
• Sell EUR/USD from the resistance level of 1.1480 with a target of 1.1200 and a stop-loss at 1.1540.

EUR/USD Technical Analysis Today:

As anticipated, the EUR/USD pair remains within its current range, showing bullish momentum as markets and investors await the release of US inflation figures later today. These figures, due at 3:30 PM Egypt time, will significantly impact market expectations for the future monetary policies of the US Federal Reserve. Yesterday, the EUR/USD price jumped to the 1.1447 resistance level, close to its three-year high of 1.1572 recorded in April, as traders closely monitored developments in ongoing US-China trade talks.

Trading Advice:

We still recommend selling the EUR/USD on any upward bounce and avoiding risk, regardless of the strength of the trading opportunities.

Meanwhile, investors are assessing comments from European Central Bank (ECB) officials for clues on the bank’s next policy moves. Governing Council member François Villeroy de Galhau indicated that the ECB can still act quickly to adjust interest rates, even after its eighth consecutive cut, which he stated “returned to normal” in monetary policy. Last week, the ECB cut interest rates as expected, but Governor Christine Lagarde suggested that the monetary easing cycle might be nearing its end. The deposit facility rate is now 2%, while Eurozone inflation fell to 1.9% in May 2025. Concurrently, the bloc’s economy grew by 0.6% in the first quarter of 2025, its fastest growth rate since Q3 2022.

Technical Outlook for EUR/USD Today:

Based on the daily timeframe chart, the EUR/USD currency pair remains on a bullish trajectory, supported by the stability of currency bulls around and above the 1.1400 resistance. This stability is pushing the 14-day RSI (Relative Strength Index) near the 60 reading, which reinforces bull dominance and anticipates stronger gains before the indicator reaches overbought territory. Simultaneously, the MACD (Moving Average Convergence Divergence) indicator confirms the upward path. The bulls’ next key targets are the resistance levels of 1.1520 and 1.1600, with signs of overbought conditions likely to begin around the latter level. Conversely, over the same period, the support levels of 1.1220 and 1.1165 remain crucial for bears to break the current bullish trend of the currency pair.

Goldman Sachs Raises EUR/USD Price Forecast

Goldman Sachs has raised its forecasts for the EUR/USD pair, citing relatively weaker equity performance for Euro-based investors, declining foreign appetite for US assets, and a confirmed slowdown in US economic activity. On another note, according to performance across stock trading platforms, US equities may appear stable in USD value, but they have fallen by 8% year-to-date for Euro investors, making EU stocks relatively more attractive. Overall, the less appealing US investment climate is prompting global investors to diversify their investments away from the US dollar and USD-denominated assets.

Recently, recent macroeconomic indicators support the narrative of slowing US economic activity, reinforcing the argument for continued USD depreciation.

Consequently, Goldman Sachs has raised its EUR/USD targets to:1.17 over 3 months

1.20 over 6 months
1.25 over 12 months

These targets are higher than the previous 1.12, 1.15, and 1.20 set after the “Liberation Day” policy announcement. In general, Goldman Sachs maintains its structurally bearish outlook on the US dollar, driven by macroeconomic divergence and global capital reallocation. From their perspective, the EUR/USD trend remains bullish, with 1.25 now being the 12-month target.

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• The GBP/USD price analysis suggests increasing expectations for Bank of England rate cuts.

• The UK labor market was weaker in the three months to April.

• Market participants are awaiting the US consumer inflation report.

The GBP/USD price analysis suggests increasing expectations for Bank of England rate cuts this year after downbeat UK employment data. Meanwhile, market participants remain cautious ahead of crucial US inflation figures. 

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Data on Tuesday revealed that the UK labor market was weaker in the three months to April. The unemployment rate reached an almost four-year high, rising from 4.5% to 4.6%. At the same time, wage growth slowed sharply from 5.5% to 5.2%. 

The downbeat figures increased BoE rate cut expectations and weighed on the pound. Before the report, traders were 39-bps of rate cuts this year. This figure increased to 48-bps after the data. 

Meanwhile, market participants are awaiting the US consumer inflation report, scheduled for release on Wednesday. According to estimates, inflation increased by 0.2% in May. Meanwhile, the annual figure increased by 2.5%, above the previous reading of 2.3%. 

A hotter-than-expected reading would confirm the Fed’s fears that Trump’s tariffs have increased price pressure. Moreover, it would lower Fed rate cut expectations, boosting the dollar. On the other hand, if inflation is softer, it will weigh on the dollar by increasing bets for a Fed rate cut.

GBP/USD key events today

• US core CPI m/m
• US CPI m/m
• US CPI y/y

GBP/USD technical price analysis: Bears find their feet below the 30-SMA

On the technical side, the pound is finding its feet below the 30-SMA after a recent shift in sentiment. Meanwhile, the RSI trades nearer the oversold region, indicating solid bearish momentum. However, after a strong break below the SMA, momentum has eased, and price action shows hesitation to continue lower. The price is now making small-bodied candles. 

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Nevertheless, the bearish bias has strengthened, and the path is clear for GBP/USD to reach the 1.3400 support level. A break below this level will strengthen the bearish bias and allow the price to target the 1.3200 support. 

However, if the level holds firm, bulls might return for a pullback. However, the bearish bias will remain strong as long as the price stays below the 30-SMA.

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Copper price remains stable until this moment below $4.8900 level, which decelerates the chances for renewing the bullish attempts, to keep preferring the sideways bias domination in the near trading, and there is a possibility to form some correctional waves that target $4.7500 reaching $4.6600 level.

While the price success to breach the mentioned barrier and hold above it will reinforce the chances for renewing the bullish attempts, to expect reaching $5.0300 followed by the next barrier at $5.1000.

The expected trading range for today is between $4.7500 and $4.8900

Trend forecast: Fluctuated within the bullish track

Copper price remains stable until this moment below $4.8900 level, which decelerates the chances for renewing the bullish attempts, to keep preferring the sideways bias domination in the near trading, and there is a possibility to form some correctional waves that target $4.7500 reaching $4.6600 level.

While the price success to breach the mentioned barrier and hold above it will reinforce the chances for renewing the bullish attempts, to expect reaching $5.0300 followed by the next barrier at $5.1000.

The expected trading range for today is between $4.7500 and $4.8900

Trend forecast: Fluctuated within the bullish track

• Bearish USD/JPY Scenario: Renewed trade tensions, higher Japanese producer prices, hawkish BoJ signals, or softer US inflation could push USD/JPY toward 142.5.
• Bullish USD/JPY Scenario: Easing trade tensions, softer producer prices, dovish BoJ cues, or hotter US inflation may drive the pair above 145 toward 146.285.

See today’s full USD/JPY forecast with chart setups and trade ideas.

AUD/USD in Focus: US-China Trade Headlines to Guide Risk Sentiment

US-China trade talks continued on June 10, spotlighting AUD/USD. Easing US-China trade tensions and progress toward a meaningful agreement could boost Chinese demand and bolster Aussie dollar sentiment. Given that China accounts for one-third of Australian exports and, with a trade-to-GDP rate exceeding 50%, improving trade terms may ease recession fears.

Conversely, failed talks may raise recession risks and prompt a more dovish RBA rate stance. A more dovish RBA rate path could drag AUD/USD lower.

At the most recent RBA press conference, Governor Michele Bullock warned:

“Australia’s economy could easily be compromised if a trade war between the US and China escalates. Depending on where we end up on trade developments, there might be more interest rate adjustments. But for now, rates are in the right place.”

AUD/USD: Key Scenarios to Watch

• Bearish AUD/USD Scenario: Escalation in the US-China trade war or dovish RBA rhetoric may send AUD/USD below $0.65 toward $0.6450 and the 200-day and 50-day EMAs.
• Bullish AUD/USD Scenario: A US-China trade deal or hawkish RBA cues could drive the pair above $0.6550 toward $0.66.

Click here for a more comprehensive analysis of AUD/USD trends and trade data insights.

Aussie Dollar Daily Outlook: US CPI in Focus

Later today, the US CPI Report will move AUD/USD through its influence on US-Aussie interest rate differentials.

Higher inflation would likely temper Fed rate cut expectations, widening the interest rate differential in favor of the US dollar. A wider rate differential may pull AUD/USD below $0.65, bringing the 200-day and 50-day EMAs into sight.

Softer inflation, by contrast, may revive Fed rate cut bets, narrowing the rate differential. In this scenario, AUD/USD may move above $0.6550, with the $0.66 level as the next key target.

June 10, 2025 – Written by Frank Davies

STORY LINK Euro to Dollar Forecast: EUR to See “1.1370-1.1430 Range Today”

Euro-Zone and US surveys have both suggested a boost to investor confidence, but the dollar has failed to sustain gains with the Euro to Dollar (EUR/USD) exchange rate trading back above the 1.14 level from 1.1375 lows.

According to ING; “It’s hard to see EUR/USD breaking out of a 1.1370-1.1430 range today, with directional breakout risks equally balanced.”

CIBC is positive on the pair; “we anticipate underlying EUR resilience as the broad USD diversification narrative is set to persist.”

Events in Los Angeles will command media headlines. If tensions spread to other major cities or there is an overall escalation, there is the risk that wider confidence in US assets will take another hit.

Markets will also continue to monitor trade talks closely.

MUFG commented; “The talks are taking place amidst growing evidence of the economic disruption from the tariff war. The latest trade report from China released yesterday revealed that exports to the US declined by almost -20% in May which was the largest monthly drop since the start of COVID.”

Saxo chief investment strategist Charu Chanana commented; “The extension of talks and some positive sound bites from the U.S. officials could offer short-term relief, markets are unlikely to buy into this optimism without real structural progress.”

She added; “Unlike the Geneva talks, where tariff relief provided easy wins, the London talks are now tackling thornier issues like chip export controls, rare earths, and student visas.”

TD Securities commented; “A less exceptional US combined with a more confrontational trade policy may drive global investors to diversify away from USD-denominated assets.”

According to ING; “Look out for any updates on US-China trade talks. Any good news is probably a dollar positive in the current environment.”

The Euro-Zone Sentix investor confidence index improved to 0.2 for June from -8.1 the previous month and above consensus forecasts of -5.3.

Sentix commented; “There are signs of an upturn for the economy in the eurozone and Germany in June. The increase of +10.5 points in the expected values in particular gives cause for hope. Euroland is benefiting from a recovery in Germany.”

According to Scotiabank there is scope for further hawkish ECB rhetoric; “We see scope for EUR strength on the back of relative central bank policy as markets fade their expectations for cuts.”

Looking at the US outlook Sentix noted; “The shock caused by the tariff policy in the US is slowly subsiding. Situation scores in particular are rising strongly for the US economy. Expectations are also recovering by +11.0 points, but remain negative in absolute terms.”

It added; “Overall, the global economy is breathing a sigh of relief, even if the US tariff shock has not yet been fully absorbed.”

The US NFIB small-business confidence index improved to 98.8 for May from 95.8 the previous month and above expectations of 96.0.

According to the survey, expected business conditions and sales expectations contributed the greatest to the rise in the Index. The Uncertainty Index rose 2 points from April to 94.

ING notes that the Treasury will be holding the latest 3-year bond auction on Wednesday.

It added; “A poor auction could rekindle the weaker dollar story, where a pair like USD/JPY could lead the dollar lower in a more difficult environment for risk.”

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TAGS: Euro Dollar Forecasts

No news for copper price by it continues fluctuation below the extra barrier at $4.8900, which obstacles the chances for resuming the bullish attack, to expect the domination of the sideways track in the near period, and there is a chance for forming some correctional waves, to reach $4.7500 reaching 50%Fibonacci correctional level at $4.6600.

While the price success to confirm breaching the mentioned barrier will reinforce the chances for renewing the bullish attempts, to expect reaching $5.0300 reaching the next barrier at $5.1000.

The expected trading range for today is between $4.7500 and $4.8900

Trend forecast: Fluctuated

• The GBP/USD price analysis shows the pound giving up its gains from the previous session.

• The greenback recovered as market participants watched trade talks between China and the US.

• Traders are awaiting the US CPI report, which will provide clues about the outlook for Fed rate cuts. 

The GBP/USD price analysis shows the pound giving up its gains from the previous session amid dollar strength. The greenback recovered as market participants watched trade talks between China and the US in London. Meanwhile, traders are also preparing for the US consumer inflation report and the UK’s spending plans. Downbeat UK claimant count data also ignited a sell-off. 

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After a call between the US and Chinese presidents, the two countries agreed to meet and discuss trade matters in London. The talks started after Trump accused China of not being true to their recent trade deal. 

Recently, the two countries agreed to slash tariffs for the next 90 days. Moreover, this deal paused a raging trade war that had dimmed the outlook for the global economy. Therefore, any conflicts on trade revive tensions and fears for both economies. Meanwhile, talks boost investor confidence. However, it remains unclear whether the two countries will reach an agreement. 

Meanwhile, traders are awaiting the US CPI report, which will provide clues about the outlook for Fed rate cuts. At the same time, a UK spending plan might shape the outlook for the economy and monetary policy.

GBP/USD key events today 

Traders are not looking forward to any significant releases from the UK or the US. As a result, all focus will remain on trade talks.

GBP/USD technical price analysis: Bears show strength below the 30-SMA

On the technical side, the GBP/USD price has broken below the 30-SMA, indicating a bearish shift in sentiment. At the same time, the price has made a solid red candle below the SMA, confirming strength in the new move. Currently, the price trades well below the SMA, with the RSI under 50, suggesting a bearish bias. 

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The shift comes after the previous rally paused at the 1.3603 resistance level and made a bearish divergence. This weakness allowed bears to gain momentum and take charge by pushing the price below the SMA. 

Bears can now aim for the next support at the 1.3400 level. A break below this level would strengthen the bearish bias by making a lower low. On the other hand, if bears fail to achieve this, the price will bounce higher.

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• The Euro did rally a bit during the early hours on Monday, but we are starting to see a little bit of heaviness in this market at the moment.
• That being said, we still have a long way to go before we can talk about being bearish.
• However, we are in a situation where traders are definitely worried about the 1.15 level and whether or not we can break above it.

We’ve recently seen volume spike, drop, and then spike again. When looking at certain oscillators, you can also see divergence. I believe that we may be a little tired at this point and could see a bit of a breakdown. At the same time, I could make the argument that the market is simply going to kill time after this massive run higher. After all, it’s not typical for this pair to move that quickly.

Normal Behavior of Grinding Here

This is a market that generally grinds its way in one direction or the other, often putting traders to sleep. The fact that we had such an impulsive move is a little out of the ordinary. Looking at the longer-term chart, you can see there is a major cluster right here, so it makes sense that we are repeating that pattern.

We had a range from the end of 2022 between 1.12 and 1.05. We broke below it before breaking above it, so from this perspective, the market is showing signs of confusion. If we break down below the 1.12 level, then I think we will return to that consolidation region. However, if we break above 1.15, then we could go looking to the 1.18 level. All things being equal, I think in the short term we’ve got a lot of sideways action ahead of us.

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Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

• The Japanese yen the British pound has pulled bank of it against the Japanese yen during trading on Monday, but it is still fairly close to the overall resistance barrier.
• It does look like buyers are trying to lift it up.
• I think this is an interesting pair to watch because right around the 196.50 yen level there is a significant amount of resistance.

It being broken to the upside could open up the possibility of a move to the 199 yen level short-term pullbacks. I think we continue to see a lot of support near the 195 yen level which is of course a large round psychologically significant figure. If we break down below there then the market is likely to go looking to the 50 day EMA closer to the 193 yen level.

Looking to Buy the Dip?

In general, I think you’ve got a situation where traders are looking to buy the dip, mainly due to interest rate differential. The fact that we’ve recently shown that the Japanese bond market is a bit of a train wreck just waiting to happen. There’s been multiple days there’s been nobody willing to buy Japanese government debt. That is a disaster just waiting to happen. the Bank of Japan almost certainly is going to have to step in and do a bit of quantitative easing before this is all said and done.

I think what you’ve got in front of you is a chart that expresses this. If we can break out to the upside, I believe that not only is the 199 yen level possible, but we may even go all the way to the 200 yen level. It’s not until we break down below the 200 day EMA, presently near the 192.50 Yen level, that I’d be concerned about the bullish attitude of this pair.

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Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.