EUR/USD rises modestly as Trump announces withdraw from the Iranian deal

• US Dollar drops as Trump announces withdraw from the Iran nuclear deal.
• EUR/USD recovers but still remains down for the day.

The EUR/USD pair rose modestly following the announcement of US President Trump of the withdraw from the Iran nuclear deal but remains near multi-month lows. Gold rallied and equity prices in Wall Street held near daily lows.

EUR/USD found support at and rose to test the 1.1885 intraday resistance. As of writing it was trading at 1.1875. The Euro heads for the third daily decline in-a-row against the US dollar and the lowest close since late December. The greenback pulled during the US session but still remains strong.

Trump said will reimpose sanctions and also mentioned that US Secretary of State Pompeo was going to North Korea to prepare for the summit between Trump and Kim Jong-un.

Technical levels

To the upside, resistance levels might be seen at 1.1895, 1.1935/40 (May 8 high / May 2 low) and 1.1985. On the flip side support could be located at 1.1855, 1.1810 and 1.1770