EURUSD Chart Technical Outlook is under pressure with 1.0500 support on focus
Euro recovery has been short-lived. The common currency is on its back foot again on Thursday amid broad-based US Dollar strength. The escalation of the war in Ukraine and concerns about Trump’s pledge to hike tariffs on Eurozone products are acting as headwinds for the pair.
In the calendar today, ECB and Fed speakers are likely to highlight the diverging rate paths of their respective central banks. US Jobless claims will test the US labor market.
Unless we see a sharp increase in claims, I expect the pair to maintain its negative tone, aiming for the 1.0500 support area. Below here, the next target is 1.0450. Resistances are 1.0600 and 1.0655.
