Ella 
EUR/USD attracted some buying in Asia on Wednesday and now appears to have ended a three-day losing streak, falling to a more than one-week low hit in the previous session. EUR/USD is currently trading around 1.0960, with an intraday increase of just over 0.15%, still affected by the price fluctuations of the US dollar (USD).
The U.S. dollar index, which tracks the greenback against a basket of currencies, shed some of Tuesday’s strong gains as positions were rebalanced ahead of important U.S. macro data and key Federal Reserve minutes. Meanwhile, market doubts that an early interest rate cut by the Federal Reserve could prevent traders from making aggressive bearish bets on the dollar and prevent further gains in EUR/USD.
From a technical perspective, EUR/USD maintains some resilience below the 100-period simple moving average (SMA) on the 4-hour chart and is gaining ground near the 50% Fibonacci retracement level of the December 11-28 rally. of support. Situated around 1.0940, this level should now serve as a key pivot level, with a break below opening the space for an extended pullback from the 1.1135-1.1140 area, the five-month high hit last week.
