The USD has slightly depreciated against the common currency, following Trump’s remarks. See ADS Securities’ EURUSD Trump commentary analysis.
13 April, ADS Securities – Yesterday, the Euro traded significantly higher against the US Dollar following comments from the US President Donald Trump that the Dollar is getting too strong, favoring a weaker currency and a low-interest rate regime.
EURUSD Trump commentary analysis
On the 1H chart, the pair is trading above its short -term and long-term EMA’s, reflecting at a bullish technical picture. Moreover, the MACD indicator is trading at a higher level above its centre line, further affirming the above stance. Key resistance is placed at the 1.0700 level, followed by the 1.0730 and 1.0820 levels.
A sustained break above the latter might lead to further acceleration to the upside. On the other hand, key support is situated at the 1.0605 level, followed by the 1.0550 and 1.0465 levels. A breach below the latter might trigger bearishness in the pair.
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