EUR/USD is trading at 1.07873, 0.02% down since previous day close. EUR/USD remains in its position after trimming daily gains on Monday. Technical analysis suggests bearish momentum for the pair, with a break above the 1.0800 level potentially testing a 23.6% Fibonacci retracement level and the nine-day Exponential Moving Average (EMA). The 14-day Relative Strength Index (RSI) is below the 50 marks, and the Moving Average Convergence Divergence (MACD) diverges below the signal line, confirming bearish momentum. Support is at March’s low of 1.0767 and major support at 1.0750.

US100 is trading at 18568, 0.50% down since previous day close. NASDAQ Composite fell 0.2%. Q4 GDP growth revised higher, with a 3.4% annualized rate in the fourth quarter. Fed Governor Christopher Waller said there was no hurry for interest rate cuts now, citing hotter-than-expected inflation readings. The main focus will be on Friday’s release of the core personal consumption expenditures price index. As seen in the chart, the index has a reversal from resistance, downside is expected.

XAU/USD is trading at 2260, 1.23% up since previous day close. Gold price reached a new record peak around $2,265-$2,266 due to rising bets for a June Fed rate cut. Geopolitical tensions from the Russia-Ukraine war and Middle East conflicts support the safe-haven gold price. The risk-on mood and upbeat Chinese manufacturing data support bullish sentiment, suggesting the path of least resistance is to the upside. However, overstretched conditions on the daily chart warrant caution ahead of the release of the US ISM Manufacturing PMI.