The EUR/USD pair is experiencing consolidation as traders await key US economic indicators, including the Producer Price Index (PPI) and Michigan Consumer Sentiment Index. Despite some optimism in the market, particularly following disappointing US Retail Sales data that weakened the US Dollar, the EUR/USD pair remains subdued.
Francois Villeroy de Galhau, a member of the European Central Bank’s Governing Council, hinted at the possibility of a rate cut, though the timing remains uncertain. This sentiment, coupled with expectations of higher US Treasury yields, is providing some support to the US Dollar and limiting gains for the EUR/USD pair.
Looking at technical indicators, the EUR/USD pair faces resistance near the 38.2% Fibonacci retracement level at 1.0772. A breakthrough could lead to further gains towards the psychological resistance at 1.0800. On the downside, key support lies around the 9-4hour Exponential Moving Average (EMA) at 1.0755, with a potential drop towards the psychological level of 1.0700.
Overall, the EUR/USD pair’s movement is influenced by a combination of factors, including economic data releases, central bank actions, and technical indicators, shaping its trajectory in the near term.
EUR/USD: Four-Hour Chart
![](https://editorial.fxstreet.com/miscelaneous/EUR_USD_2024-02-16_15-04-23-638436763796205358.png)
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.
USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
USD | -0.02% | 0.06% | 0.08% | -0.03% | 0.17% | 0.04% | 0.10% | |
EUR | 0.00% | 0.06% | 0.09% | -0.02% | 0.18% | 0.06% | 0.11% | |
GBP | -0.07% | -0.08% | 0.01% | -0.09% | 0.11% | -0.01% | 0.04% | |
CAD | -0.08% | -0.09% | -0.01% | -0.09% | 0.10% | -0.04% | 0.02% | |
AUD | 0.03% | 0.01% | 0.10% | 0.12% | 0.21% | 0.09% | 0.14% | |
JPY | -0.17% | -0.18% | -0.09% | -0.10% | -0.22% | -0.12% | -0.06% | |
NZD | -0.05% | -0.06% | 0.02% | 0.04% | -0.07% | 0.13% | 0.05% | |
CHF | -0.11% | -0.11% | -0.04% | -0.02% | -0.13% | 0.07% | -0.06% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
EURO FAQS
What is the Euro?
The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).