EURUSD: BUY 1.1525, SL 1.1490, TP 1.1590 | 23 June 2025

EURUSD:

The EUR/USD exchange rate continues to rise for the third day in a row, trading at around 1.1520 during Asian trading hours on Friday. The pair is strengthening amid a decline in the US dollar (USD), possibly due to a technical pullback. The US dollar may regain its position amid increased demand for safe assets caused by growing concerns about possible US involvement in the air war between Israel and Iran.

According to senior US intelligence officials quoted by The New York Times, Iran has not yet decided to build a nuclear weapon, despite having accumulated a large stockpile of enriched uranium needed to make a bomb.

Meanwhile, the chairman of the US Senate Intelligence Committee said that US President Donald Trump will offer Iran a last chance to strike a deal to end its nuclear program. Trump is likely to postpone his final decision on strikes for up to two weeks.

The Federal Reserve's monetary policy report, due to be released on Friday, will be presented to Congress. Traders are likely to assess the report as it contains a discussion of “monetary policy conduct, economic developments, and the outlook for the future.”

The euro-dollar pair is also strengthening as the euro (EUR) receives support from the European Central Bank (ECB). ECB President Christine Lagarde noted that rate cuts are coming to an end as the central bank is now “well positioned” to deal with the current uncertainty.

Trading recommendation: BUY 1.1525, SL 1.1490, TP 1.1590

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