EUR/USD Finds Support at Key Level Amid Recovery Phase
Market Overview
South Korean
The South Korean won rebounded strongly, rising 0.6% to around 1,368 KRW/USD on Tuesday, after U.S. President Donald Trump officially announced a 25% import tariff on goods from Japan and South Korea—replacing the previously vague signals.
The tariff implementation deadline was postponed to August 1, improving market sentiment as investors hoped the two countries would have more time to negotiate and reach a positive trade resolution.
Japan
U.S. President Donald Trump has officially announced a 25% tariff on imports from Japan and South Korea, set to take effect on August 1. Although Trump left the door open for an extension if the countries present new proposals, the announcement has still unsettled market sentiment.
Japanese Prime Minister Shigeru Ishiba affirmed that Japan will continue negotiations with the U.S. in pursuit of a mutually beneficial trade agreement.
Bitcoin (BTCUSD)
Fundamental Analysis
Bitcoin continues to face rejection around the $110,000 level, pulling back slightly to $108,200. The break below the short-term ascending trendline and trading under the 100-hour SMA signal rising short-term selling pressure. The nearest support lies at $107,500 – $106,500; a break below this zone could send the price lower toward $104,200.
Still, the medium-term outlook remains bullish, supported by 9% global money supply growth and expectations for a rally toward $117,000–$160,000 in the coming year.
Technical Analysis
The price is moving sideways within a range of approximately $105,281 – $110,587, following a strong rebound from the deep support zone at $97,766 – $102,374.The RSI is around 42.56 and crossing below the signal line, indicating weakening momentum.
This current consolidation phase (from late June to early July) is marked by contracting volume, reflecting market indecision, with neither buyers nor sellers showing clear dominance.
EURUSD
Fundamental Analysis
The euro rebounded slightly by 0.3% to $1.1741 after a sharp decline in the previous session. The recovery was driven by reports that the EU may be exempt from the U.S.'s baseline 10% tariff.
However, investors remain concerned about global growth prospects amid ongoing trade policy uncertainty. All eyes are now on Wednesday’s release of the June FOMC meeting minutes for further clues on the Fed’s interest rate outlook.
Technical Analysis
EUR/USD is currently in a mild recovery phase after a pullback from the 1.1830 peak, trading within the 1.1716 – 1.1745 range.
The current price structure suggests a potential accumulation base forming around the 89 EMA, aiming to support the medium-term uptrend.
The RSI is around 48, indicating that there is still room for the recovery to continue. Trading volume has slightly increased near the recent bottom, suggesting buying interest at the support level.
Gold Spot (XAUUSD)
Fundamental Analysis
Gold prices edged lower to around $3,330/oz as hopes for new trade agreements reduced safe-haven demand.
President Trump signed an executive order delaying the implementation of new tariffs from July 9 to August 1, easing market concerns.Additionally, last week’s strong U.S. jobs report weakened expectations of a Fed rate cut in July. Investors are now awaiting the release of the June FOMC meeting minutes (scheduled for Wednesday) for further clues on the Fed’s monetary policy outlook.
Technical Analysis
The market is fluctuating within a wide sideways range, with the upper boundary around the supply zone at ~3,380–3,400 and the lower boundary near 3,294–3,245.
Resistance zone: Located between 3,370 – 3,390, this area has been tested multiple times and contains several Bearish Order Blocks (OB), indicating strong selling pressure.
Support zone: Situated between 3,294 – 3,278, this is the nearest support area, marked by consecutive Bullish OBs—confirming the presence of buying interest.
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