Live Updates > Live Update Details
2025-07-29 08:34:19
EUR/USD stabilizes after overnight plunge, with details of the EU-US trade deal drawing attention. 1. After a sharp 1.3% drop overnight, EUR/USD rebounded slightly by 0.05% and is currently trading around 1.1591. Market attention is focused on the specific implementation terms of the EU-US trade deal. France criticized the agreement as the EU's "capitulation" to the US, while other member states expressed relief at the agreement. The feasibility of the agreement's requirement for the EU to purchase $250 billion in US energy annually has been questioned, making implementation details crucial. 2. Technically, the 5/10/21 moving averages are aligned in a bearish pattern, shifting the daily signal from neutral to bearish. Resistance is seen at 1.1676/1.1700 and above the moving average. Support is seen at the July low of 1.1556 and 1.1537 (the 38.2% retracement of the May-July rally). The options market suggests short-term trading around 1.1550 (€745 million) and 1.1600 (€1.186 billion).
