Morning briefing: EUR/USD faces immediate resistance at 1.1600

  • November 26, 2025
  • Posted by: EWGFX
  • Category: news
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The weaker than expected US Retail sales & Consumer confidence data releases at 0.1%(0.4%) &

88.7(93.4) led Dollar Index to decline yesterday. Still the target of 101 can get achieved as long as the DXY trades above 99.50. EURUSD & EURINR face immediate resistance at 1.16 & 103.50 respectively. EURJPY is trading within 182-180 region. USDJPY can test the support near 155.50 before rising back later. USDNCY has declined below 7.09 and failing to see an immediate bounce back can extend the fall towards 7.07-7.065 as well. The Aussie can extend the rise to 0.65-0.655. Pound needs to see a sustained move above 1.32 to turn bullish in the near term, else it can continue to consolidate between 1.32-1.30 region. USDINR is trading below 89.50 and has a scope to extend the decline towards 89.00-88.75. US Personal income, US PCE & US Durable goods are the data releases scheduled today.

The US Treasury yields have come down to their key support. Failure to bounce back immediately can drag them further lower from here. The German Yields have dipped further. They look vulnerable to break below their immediate support and fall more. The 10Yr GoI has come down but has support which can limit the downside. We expect the yield to rise back from this support.

The Dow and Dax are rising and could test 48000 and 23600 soon, from where a rejection can be possible in the medium term. Nifty is headed towards our expected 25800, where the price action needs to be watched. A rebound can take it back to 26000-26200 (preferred), else can open the door for further decline to 25400-25200 (less likely). Nikkei is bullish towards 50000-52000, while Shanghai can continue to rise towards 4000, while in the 3800-4000 trade range.

Crude prices have dipped slightly. Brent and WTI could be trading in a near-term range of $64-62 and $60.50-58/56. Gold and Silver have moved up. Gold and Silver have important and decent resistance levels of $4200 and $52/54, respectively, which may hold for the near term. Only a break above the mentioned levels, if seen, can take the prices up towards $4400 and $54 respectively. Copper has broken above $5.10 and is now headed to the next resistance at $5.2, from where a rejection back to $4.80 looks likely. Natural gas has dipped within the range of $4.7-4.4, within which a bounce from $4.4 looks likely in the next couple of days.