EURUSD moves lower after testing ceiling. Trump says will tariff autos and other things

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.

This article was written by Greg Michalowski at www.forexlive.com.