The currency pair rises 0.36% after US President Trump cancels Iran strikes, easing geopolitical tensions and pressuring the dollar.
EUR/USD advanced 0.36% to 1.1579 as the US dollar retreated following President Trump’s decision to cancel military strikes on Iran. The move came amid reports that Washington and Tehran are finalizing a peace agreement, reducing safe-haven demand for the greenback.
The pair remains below the critical 1.1600 level, with the Relative Strength Index (RSI) still below the 50-neutral mark, signaling cautious optimism. Analysts note resistance at 1.1655-1.1676, where the 50- and 200-day SMAs converge, while support lies at 1.1500 and 1.1443.
Market reaction has been muted, with traders awaiting further confirmation of a sustained break above 1.1600 before positioning for a bullish trend.