During the European session, France’s PMI (Purchasing Managers’ Index) was stronger than expected, leading to euro buying. However, weaker-than-expected PMI data from Germany and the eurozone caused the euro to fall.
In the U.S. session, a strong U.S. PMI report pushed long-term interest rates higher, making the dollar stronger. As a result, EUR/USD dropped below the previous day’s low from 1.0798 to 1.0782.
However, the euro stopped falling after U.S. President Donald Trump said he might give tariff exemptions to many countries.
Also, since the 200-day and 21-day moving averages formed a “golden cross,” there is a chance that the euro could rise in the future.
EUR/USD Price Range Forecast: 1.0850 – 1.0750
Note: The above content does not guarantee profits. Please make your own decisions when trading.