EURUSD soars above 1.1000 ahead of the Fed minutes

The EURUSD rate has surged above 1.1000 as market participants await today’s release of the latest US Federal Reserve meeting minutes. Discover more in our analysis for 9 April 2025.

EURUSD forecast: key trading points

• Market focus: FOMC meeting minutes to be released during the US session today
• Current trend: bullish trend is underway
• EURUSD forecast for 9 April 2025: 1.1000 and 1.1100

Fundamental analysis

The EURUSD rate continues to climb. Earlier this week, the European Commission announced it had proposed a "zero-for-zero" tariff deal to the Trump administration in an attempt to avert a trade war, with EU ministers agreeing to prioritise negotiations. However, Washington rejected the offer.

Today, the market will focus on the minutes from the US Federal Reserve’s March meeting, where the Fed held interest rates steady at 4.50%. Investors hope to see signals in the minutes regarding future monetary policy direction.

EURUSD technical analysis

On the H4 chart, the EURUSD pair is showing a strong bullish trend, trading within an ascending price channel. A Triangle pattern has formed, suggesting further growth towards the 1.1300 area.

The short-term EURUSD forecast suggests the pair could reach 1.1100 in the near term if the bulls keep the price above 1.1000. Conversely, if the bears push the price below this level, the pair may retest the 1.0900 support level.

Summary

The EURUSD pair is rapidly rising, consolidating above the 1.1000 level as the market awaits the US Federal Reserve’s meeting minutes.