- Analytics
- News and Tools
- Market News
- EUR/USD: Under pressure on the day – OCBC
EUR/USD: Under pressure on the day – OCBC
Euro (EUR) continued to trade under pressure on tariff concerns – be it universal tariffs, reciprocal tariffs or tariffs on European autos. EUR was last at 1.0325 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
Bullish momentum on daily chart fades
“Last week, Trump told the BBC that tariffs on EU goods imported into the US could happen ‘pretty soon’, although he would not give a timeline. He added that ‘They don't take our cars, they don't take our farm products, they take almost nothing and we take everything from them.”
“Millions of cars, tremendous amounts of food and farm products’. Over the weekend, there were reports that EU is considering to lower import tariff on American cars closer to the US rate of 2.5%, from current 10%. That said, the uncertainty on tariffs may still weigh on EUR for now.”
“Bullish momentum on daily chart faded while RSI fell. Risks to the downside. Support at 1.0240, 1.0140/80 levels (recent low). Resistance at 1.0360 (21 DMA), 1.0410 (50 DMA).”
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
