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U.S. Energy Secretary Wright: Oil prices will fall if the war with Iran ends in five days.The SC crude oil futures contract plunged 10.00% intraday, currently trading at 721.80 yuan per barrel.On March 23, according to Axios, US President Trump told reporters that his special envoys had met with a senior Iranian leader and claimed that the two sides had reached an agreement on many issues. Iran denied having held such talks, claiming that Trumps move was merely aimed at stabilizing the energy market. An Israeli official told Axios that US envoys Witkov and Kushner had spoken with Iranian Parliament Speaker Ghalibaf. However, Trump did not reveal the identity of his Iranian counterpart, saying he did not want them to be killed, but he stated that the US and Iran were aligned on many key issues. Notably, Trump said, "I think the person were facing is the most respected person right now, but not the Supreme Leader, and we havent received a message from him yet." Trump indicated that the two sides would continue their talks by phone on Monday, followed by a possible face-to-face meeting. Israeli officials revealed that the mediators are attempting to convene a meeting in Islamabad—with Ghalibaf and other officials representing Tehran, and Witkov, Kushner, and possibly Vice President Vance representing the US—which could take place later this week. The official also stated that Israel was aware of the indirect communication between the US and Tehran, but was surprised by Trumps remarks on Monday. "We didnt know things were progressing so quickly."The Eurozones preliminary consumer confidence index for March was -16.3, compared to a forecast of -14.4 and a previous reading of -12.2.U.S. Energy Secretary Wright: There are several other measures that can be used to lower gasoline prices.

The EUR/USD Price Analysis Is Supported By Rebounds From 1.0840-45

Alina Haynes

Apr 11, 2023 14:37

EUR:USD.png 

 

On Tuesday morning, the EUR/USD reaches a new intraday peak near 1.0880 as bulls attempt to regain control following a two-day downtrend. Consequently, the Euro-U.S. dollar pair recovers after the convergence of the 100-day simple moving average and a two-week-long ascending support line.

 

However, the recovery movements of the major currency pair remain elusive unless the quote remains below the 13-day-old horizontal resistance area surrounding 1.0930.

 

A one-week-old descending trend line near 1.0900 is protecting the EUR/USD pair's near-term upside at press time.

 

In the event that the EUR/USD pair maintains strength above 1.0930, the 1.0975 monthly high may serve as the last line of defense for pair sellers before pushing the price to February's high of 1.1033.

 

Alternately, a breach of the 1.0840-45 support confluence would drive the price to the 1.0788 monthly low without hesitation.

 

Future EUR/USD skeptics may be challenged by the 50% and 61.8% Fibonacci retracement levels of the pair's March-April upswing, respectively near 1.0745 and 1.0690.

 

To restore market confidence, supporters of the EUR/USD must surpass 1.0930. The quote remains on the bears' radar despite the fact that 1.0845-40 limits the near-term decline.


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