As U.S. long-term interest rates went down, the euro rose above the strong resistance level around 1.1720.
On this day, Secretary Bessent said, “Talks can continue even after the deadline.” Also, the Richmond Federal Reserve’s manufacturing index was much lower than expected. In addition, President Trump said the interest rate should be lowered to 1%. These things caused U.S. interest rates to drop, and the euro rose to 1.1760.
Before tomorrow’s European Central Bank (ECB) meeting, many people who had sold the euro earlier have now bought it back.
Today, there are no important economic events, so the euro may stay in the high range. After that, there might be some selling to take profits, so the euro may have a hard time rising more.
Expected EUR/USD range: 1.1710 – 1.1770 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.