• Euro rose 150+ pips since Trump took office
• Trump's trade focus on NAFTA nations impacts markets
• Lagarde's comments could shape short-term currency trends
• Key resistance levels: 1.05000, 1.05968 (Fibonacci)
• Support levels: 1.04367, 1.03377 (SMA and Fibonacci)

The euro has surged more than 150 pips since Donald J. Trump was inaugurated as the 47th president of the United States.

This upward movement is primarily driven by Trump's cautious approach toward tariffs during his speeches and his strategic emphasis on Canada and Mexico in response to reporters.

As European Central Bank President Christine Lagarde prepares to address the public, market participants are keenly awaiting her insights on persistent inflation and economic growth.

Her comments could play a crucial role in shaping the short-term trajectory of currency pairs.

Euro bulls (those expecting the currency pair to rally) should pay attention to the following potential resistance levels:

• 1.05000 – A psychologically important round number
• 1.05968 – The 161.8% golden Fibonacci level

Conversely, EUR/USD bears (those anticipating a decline in the currency pair) should monitor these potential support levels:

• 1.04367 – The 100% Fibonacci level
• 1.03377 – The 61.8% golden Fibonacci level, which coincides with the 21-day simple moving average (SMA).

The Fibonacci levels are taken from the January 6th high of 1.04367 to the January 13th low of 1.01776.

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