At present, on Friday, the EUR/USD pair is experiencing minor declines around 1.1340. However, it maintains most of the gains it made on Thursday after a US federal court overturned the block on US President Donald Trump’s tariffs, leading to a sharp decline in the US Dollar (USD).The US Court of Appeals temporarily halted the previous day’s ruling by the Court for International Trade, which had prevented most of the tariffs implemented on April 2. This development has added to the global trade situation, putting pressure on all US assets.Investors’ concerns regarding uncertain trade policies, coupled with rising fears about US fiscal stability, have contributed to the “Sell America” sentiment, causing the USD to weaken over the past two months.In terms of macroeconomic indicators, the US data was not favorable, with weekly Initial Jobless Claims surpassing expectations and the Gross Domestic Product (GDP) confirming a contraction in the economy during the first quarter.In Europe, the release of German Retail Sales data did not provide much support for the Euro (EUR), increasing anxieties about the condition of the Eurozone’s largest economy. However, the impact was minimal. Market participants are now focused on the upcoming German Consumer Prices Index figures.EUR/USD experienced a substantial rebound on Thursday, forming a bullish engulfing candle on the daily chart. While this is a positive signal, it needs to be verified by continued upward movement above previous trendline support, now acting as resistance, at 1.1390, as well as the weekly high at 1.1420.A break above these levels would shift the attention towards the April 22 high of 1.1545. Conversely, a failure to surpass 1.1420 could put bears back in control, potentially leading to a decline towards the support zone at 1.1220, followed by 1.1135 (May 16 low) and 1.1070 (May 12 low) levels.