The bears/sellers turned to quick buyers on the headlines about the EU auto tariff postponement.
That sent the pair shooting higher.
Technically, the EURUSD pair raced above MAs broken and the 1.1216-18 swing area that stalled the rally in the early London session. However, the 100 hour MA and 200 bar MA on the 4-hour remained as the next targets (at 1.1223-257). That stalled the rally.
We currently trade near the middle of the day's trading range. Call it the neutral zone.
The price action once again reminds us of the "event risk" that comes at any time given all the balls in the air.