EUR/USD declined amid speculations about US tariffs rollback

1 min read

EUR/USD declined this week
The US dollar was one of the strongest currencies during the trading week, mostly due to the optimism about Sino-US trade negotiations. EUR/USD declined even as the US consumer sentiment worsened significantly this month.
But previously, 3 days ago, EUR/USD declined dramatically.

EUR/USD declines

EUR/USD declined as the US consumer sentiment worsened significantly this month. Yet the improving industrial production helped the dollar to gain on the euro. Another reason for the dollar’s strength was the rumor that the United States is considering lifting tariffs on Chinese imports.

EUR/USD declines 1

Check the foreign exchange market. These are the data for some of the most interesting currency pairs:

AUD/USD

The Trend is bullish in the 1-hour chart. Intraday support is present at 0.7017 price level. So, as long as the price stays above 0.7017 support level, look for buy trades. If bearish candlestick closes below 0.7017 critical support level, then up trend is going to end.

EUR/JPY

The Trend is bullish in the 1-hour chart. Intraday support is present at 123.37 price level. So, as long as the price stays above 123.37 support level, look for buy trades. If bearish candlestick closes below 123.37 critical support level, then up trend is going to end.

EUR/USD

The Trend is bearish in the 1-hour chart. Intraday resistance is present at 1.1484 price level. So, as long as the price stays below 1.1484 resistance level, look for sell trades. If bullish candlestick closes above 1.1484 critical resistance level, then down trend is going to end.

GBP/USD

The Trend is bearish in the 1-hour chart. Intraday resistance is present at 1.2965 price level. So, as long as the price stays below 1.2965 resistance level, look for sell trades. If bullish candlestick closes above 1.2965 critical resistance level, then down trend is going to end.

USD/JPY

The Trend is bullish in the 1-hour chart. Intraday support is present at 107.77 price level. So, as long as the price stays above 107.77 support level, look for buy trades. If bearish candlestick closes below 107.77 critical support level, then up trend is going to end.
Images source: www.earnforex.com

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