FxWirePro:EUR/USD trades lower on Trump’s new tariff, good to sell on rallies
EUR/USD has shown a huge decline of more than 100 pips after a minor jump till 1.16445 yesterday. The decline was mainly due to trade tariif by US on China. US will impose trade tariffof $200 bn on China and global equit…
EUR/USD has shown a huge decline of more than 100 pips after a minor jump till 1.16445 yesterday. The decline was mainly due to trade tariif by US on China. US will impose trade tariffof $200 bn on China and global equity selloff happend after the Trump deciosn on trade war. Euro declined till 1.15308 a tthe time of writing. The safe haven yen recovered and commodity currencies was trading weak. The policy divergence between US Fed and ECB is dragging the Euro further down. It is currently trading around 1.15447.
On the higher side, near term major intraday resistance is around 1.1660 and any convincing break above will take the pair to next level till 1.1725/1.1750 .Minor bullishness only above 1.1850.
The near term major support is at 1.1500 and any convincing break below will drag the pair to next level till 1.140/1.1370.
It is good to sell on rallies around 1.1585-90 with SL around 1.1650 for the TP of 1.1400.
