• Natural gas has surrendered much of the rise that resulted from Iran war

• Natgas dropped and closed below the 55-DMA at EUR 43.36 mwh on Tuesday

• On Wednesday natgas trades EUR 43.00-42.60 mhw

• March 2 low was EUR 38.10 and 78.6% Feb-Mar surge is EUR 37.65

• EUR 37.65 is limit for a correction - gas fall to EUR 29.33 if it's broken

• Cheaper gas will support the euro as eurozone relies on imports

• Weaker dollar could be more effective than tariffs it may replace

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EURUSD


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)