US Session Open: Raising stop on EUR/CHF, charting oil, copper and the US dollar

AUD/USD comes under pressure on Monday, retreating to the area below the 0.7100 support ahead of the opening bell in Asia, all amid the continuation of the downside bias in the Greenback, as investors keep digesting the SCOTUS ruling against Trump’s global tariffs.
 

EUR/USD manages to regain composure and retests the 1.1800 region in quite a positive start to the week. The pair’s bounce follows the US Dollar’s offered stance post-SCOTUS ruling ahead of important US data and Fedspeak on Tuesday.

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) scooped up 51,162 ETH last week, marking its largest purchase since December.

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

The US Dollar (USD) recovered most of its intraday losses and trades broadly stable on Monday, after markets digested the Supreme Court’s decision agains United States (US) President Donald Trump's tariffs and his move to impose additional levies over the weekend.