EUR/USD Falls as US Interest Rates Rise

EUR/USD Market Reaction Following Presidential Address

On Thursday, the euro experienced a sharp decline against the US dollar after President Donald Trump delivered a speech to the nation. The drop was triggered by a surge in interest rates, as traders were disappointed by the lack of new information regarding the end of the conflict; the president largely repeated previous statements. This unexpected market response caught many off guard.

However, as US traders entered the market, the euro began to recover, with the 1.15 mark emerging as a potential support level. Resistance remains at 1.16, which coincides with the 200-day EMA, an area where the currency pair previously struggled to break through.