The euro traded a bit volatile but closed the day flat. This came after the markets digested the fresh tariff threats from Washington against the EU. The US was reportedly building a list of products to hike tariffs on, in retaliation for the EU subsidies given to Airbus, the European planemaker. On the economic front, Germany’s retail sales fell 0.6%.
EURUSD Could Fall to 1.1250
The currency pair managed to rebound off the initial lows formed at 1.1282. However, this rebound led to a lower high forming. Currently, we see the minor support forming at 1.1282. A break down below this level will push the EURUSD down to test the 1.1250 level of support. Overall, the EURUSD is back trading within the range of 1.1400 and 1.1200.
