The EURUSD tested the ceiling target between 1.0527 and 1.05325, just below the 100-day moving average at 1.05382. The high for the day reached 1.0528, where sellers stepped in, accelerating momentum after President Trump announced plans to impose a 25% tariff on EU autos and "other things" in April.
The pair then dropped to a session low of 1.0489, just above the 100-hour MA at 1.0486, while the 200-hour MA now sits at 1.04724. Earlier today, price briefly dipped below the 100-hour MA but failed to break the 200-hour MA, keeping support intact.
Looking ahead, a sustained move below both moving averages—and eventually below the swing area low at 1.04529 (near yesterday’s and the prior day’s lows)—would open the door for further selling pressure.
