EUR/USD Technical Analysis March 28, 2025
Current Price Levels and Technical Indicators:
As of 12:00 GMT on March 28, 2025, the EUR/USD currency pair is trading around 1.0769. The Relative Strength Index (RSI) on the daily chart is approximately 68.27, approaching overbought territory. The pair is currently trading below the 50-day Simple Moving Average (SMA), indicating potential bearish momentum.
Support and Resistance Levels:
Resistance: The immediate resistance level is at 1.0800.
Support: Initial support is found at 1.0733, with a more substantial support level at 1.0667.
Fundamental Factors:
Recent developments influencing the EUR/USD pair include:
U.S. Tariffs: The U.S. administration has announced new tariffs on automobile imports, leading to a correction in the EUR/USD pair.
Economic Data: The U.S. Q4 GDP came in at 2.4%, slightly above the expected 2.3%. However, agencies have expressed concerns about potential economic downturns due to restrictive tariffs.
Conclusion:
The EUR/USD pair is experiencing a correction influenced by recent U.S. tariff announcements and mixed economic data. Traders should monitor key support and resistance levels, as well as upcoming economic releases, to navigate potential market volatility.
GBP/USD Technical Analysis March 28, 2025