The German economic minister Katherina Reiche, is on the wires and says:
- Slowdown in Q3 is also down to US tariffs
- Problems continue, especially for steel and the aluminum sectors.
The EURUSD is pressing key resistance at 1.1749, a confluence of the 200-hour MA and the 38.2% retracement of the drop from the Sept 17 FOMC high. A brief topside break earlier failed, sending price back to the 100-hour MA near 1.17147, where dip buyers stepped in. As long as the pair holds above 1.1715, the bias tilts higher and a clean break/close above 1.1749 would argue for further upside; a move back below 1.1715 would flip the intraday bias lower and risk a deeper pullback.
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Resistance: 1.1749 (200-hour MA / 38.2%)
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Support: 1.1715 (100-hour MA)
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Triggers: Close > 1.1749 = bullish follow-through; < 1.1715 = bearish shift
