Last week, the euro fell to 1.0733 after President Trump announced a 25% tariff on imported cars. This level is an important support point based on technical indicators. Later in the week, weak U.S. consumer data caused the dollar to weaken, helping the euro recover to 1.0844 by the weekend.
This week, Germany’s CPI and the Eurozone’s HICP inflation reports will be released. If these reports show lower inflation, investors may expect further interest rate cuts, leading to more euro selling.
If the April 2 car tariffs take effect as planned, the euro may fall below the strong support level of 1.0730, and selling pressure could increase further.
EUR/USD Forecast Range: 1.0920 – 1.0600
Note: The information above does not guarantee profits. Please make your own trading decisions carefully.