EUR/USD Technical Analysis April 7, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 7, 2025, the EUR/USD pair is trading at approximately 1.1000. The Relative Strength Index (RSI) on the 4-hour chart is around 60, indicating neutral momentum. The pair is positioned above the 20-period Simple Moving Average (SMA) but below the 50-period SMA, suggesting a consolidation phase.
Support and Resistance Levels:
Support: Immediate support is observed at 1.0950, followed by stronger support at 1.0900, aligning with the 20-period SMA.
Resistance: The first resistance level is at 1.1050, with a more significant barrier at 1.1100.
Fundamental Factors:
The recent implementation of extensive U.S. tariffs has heightened fears of a recession, leading to significant volatility in global markets. Investors are closely monitoring these developments, as they may influence the Federal Reserve’s monetary policy decisions, potentially affecting the USD’s strength.
Conclusion:
The EUR/USD pair is currently consolidating, with key support at 1.0950 and resistance at 1.1050. Traders should remain vigilant of ongoing trade tensions and upcoming economic data releases, as these factors could significantly impact price movements.
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