EURUSD rebounds, but key levels loom ahead

May 13, 2025
-FXnews

The EURUSD is seeing a modest rebound today after sharp declines yesterday, driven in part by a stronger USD following news of US-China tariff reductions (set for a 90-day period at least). The move lower on Monday found buyers just ahead of the 38.2% retracement of the January–April rally at 1.10395 — a level that remains a critical support line.

A break below that 38.2% level would signal a deeper corrective move is underway, shifting the bias further to the downside.

The pair is moving higher helped by the CPI data which was more modest than expectations (0.2% vs 0.3% for the headline and the core measures). There has been a modest move higher with the pair trading to a new high at 1.11349.

On the topside technically, the pair now eyes the April 3 swing high at 1.11452

EURUSD rebounds, but key levels loom ahead

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