The market mood is still uncertain, but the US dollar managed to show strengthening in yesterday’s New York session trading.
The market is watching the development of global tariffs as Donald Trump’s 90-day tariff suspension period will end tomorrow, July 9 (Wednesday).
Meanwhile, the movement of the US dollar is also expected to be influenced by the FOMC meeting minutes report early Thursday morning.
On the EUR/USD currency pair chart, it can be seen that the price has shown a decline since the opening of the Asian session yesterday Monday at around 1.17800.
Until continuing to the New York session yesterday, the price has reached around 1.17000 before bouncing back after testing the important zone.
A slow increase in price is seen in the trading that continues in the Asian session this morning (Tuesday) to around 1.17500 again.
The further direction of the price is still unclear, making investors remain cautious to see the impact of the development of global tariffs.
If the price continues to rise higher, the resistance zone at 1.18000 will be tested again as in previous weeks.
Breaking through this resistance will push the price to a new record high for the trading period of 4 years.
Conversely, if the price drops below the 1.17000 zone after this, a more clear bearish signal will cause the price to reach lower levels.
The target shifts to the previous focus zone around 1.16000 or even lower.
