2026-03-09 15:51:00
Crude oil prices have eased, trading below $100 at $96.72 after earlier reaching a low of $94.65. The move lower comes as markets speculate that G7 energy ministers may release strategic petroleum reserves when they meet tomorrow, which has helped calm some of the earlier inflation and risk concerns.
Meanwhile, U.S. yields are slightly lower, with the 10-year yield trading near session lows at 4.135%, up just 0.6 basis points on the day.
U.S. stocks remain lower but have recovered from their worst levels. The S&P 500 is down 38 points (-0.57%), while the Nasdaq is down 34 points (-0.15%), well off earlier lows that saw the S&P down 103 points and the Nasdaq lower by 325 points.
For the EURUSD, the pair has pushed to a new intraday high of 1.1589, just short of the falling 100-hour moving average at 1.15944. That level is key. On Friday, the price tested the same moving average twice and found willing sellers each time.
If buyers can break above the 100-hour MA, it would open the door for a move toward Friday’s highs near 1.1620, which also aligns with the 38.2% retracement of the decline from the February 26 high at 1.1629.
A break above that level would then target a cluster of moving averages between 1.1669 and 1.1693.
On the downside, if the price fails again at the 100-hour MA, sellers will likely remain in control. Initial support comes in at the swing area between 1.1542 and 1.1555. A move below that zone would shift focus toward the session low at 1.15063.
