The picture on the EUR/USD charts is a complicated mix of technical levels and fundamental events causing various moves. This combination has resulted in a rather high volatility to the upside in the last 24 hours.
In general, the pair bounced off the support of the speculative long term channel, which was strengthened by a weekly pivot point near the 1.2150 mark.
The event coincided with the sudden announcement that Donald Trump will impose tariffs on metal imports. That caused a sudden increase in volatility.
The volatile trading broke various resistance levels until the surge paused on Friday morning near the 200-hour SMA.
