The common currency is struggling on Tuesday. However pieces of good news for the EU automotive industry from the US as the Trump administration prepares to postpone the long-threatened tariffs as Australia battles with bushfires is likely to push the pair price back onto its medium-term upwards trajectory. After testing the lower target of 1.6100, we might see a bounce-back to 1.6140, the recent top and 1.6180. Still above 1.6200 in the vicinity of the 50 percent Fibonacci retracement will come into focus in later sessions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.