4 Global Market Updates- 6 February, 2023

 In this article, we have covered the highlights of global market news about the EUR/USD, AUD/USD, USD/CHF and GBP/USD.

EUR/USD Price Analysis: The main support level is breached beyond 1.0760

During a slow Monday morning in Europe, bulls and bears compete to control the EUR/USD at 1.0800. The leading currency pair struggles to explain the latest Doji candlestick inside a three-day-old negative channel.

However, a convergence of the 200-SMA, the bottom line of the indicated channel, and the 50% Fibonacci retracement level of the January-February gain, at 1.0760, limits the short-term downside of the pair. Bearish MACD signals also tempt EUR/USD sellers.

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