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9 | Follower
Action Forex
12.07.2025
The dollar has held very well against its major peers this week, although it is still down since April 2, when US President Turmp announced reciprocal tariffs against all the US’s main trading partners, before postponing them and keeping only a 10% base duty.
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Bitcoin exceeded the $118K mark for the first time in history, thanks to capital inflows into specialised exchange-traded funds and demand from companies accumulating cryptocurrency. BTCUSD was supported by improved global risk appetite. In the short term, the chances of the bulls continuing the rally look high, with a technical growth target above 135,000.
EUR/USD is still extending correction from 1.1829 and intraday bias stays neutral. Strong support is expected from 1.1630 resistance turned support to bring rebound. On the upside, firm break of 1.1829 will resume the rise from 1.0176 and target 61.8% projection of 1.0176 to 1.1572 from 1.1064 at 1.1927. However, sustained break of 1.1630 will bring deeper fall to 55 D EMA (now at 1.1459) instead.