During the European session on Wednesday, the EUR/USD pair was able to recover lost ground. Despite finding support at 1.1300, the pair struggled to surpass the 1.1340 mark as investors took a wait-and-see approach ahead of the minutes from the Fed’s May meeting. The US Dollar (USD) had been performing well in previous sessions, driven by an improvement in US Consumer Confidence, which had been declining for the last six months. This positive trend was also reflected in the decrease in the percentage of Americans anticipating a recession in the near future. However, April’s US Durable Goods Orders saw a decline, highlighting the negative impact of President Donald Trump’s unpredictable tariff policies on business and manufacturing. The market received a boost when Trump announced a delay in imposing tariffs on Eurozone products, resulting in the US Dollar Index (DXY) rising by about 1% from its one-month low. This delay has eased fears of a new front in the trade war and the potential impact on global economic growth. In the Eurozone, German Unemployment data and France’s Consumer Confidence did not perform well, supporting the statements made by European Central Bank officials Francois Villeroy and Klaas Knot, hinting at further rate cuts after the June monetary policy meeting. Currently, the EUR/USD pair is experiencing a correction after last week’s rapid rise. The pair has broken below the bottom of the ascending channel, and traders are keeping an eye on the support at 1.1255 (the May 22 low) and 1.1220 (the May 19 low). On the upside, the immediate resistance is at 1.1350 (the reverse trendline), with the next resistance levels at the May 27 and May 26 highs, which are 1.1400 and 1.1420, respectively.