EUR/USD flatlines near recent lows, unfazed by Eurozone HICP numbers

💡 DMK Insight

EUR/USD is hovering around 1.1690, but the bearish sentiment from December highs is still looming. Traders should pay attention to this stagnation, as it signals a potential consolidation phase. The market’s inability to break above recent resistance levels indicates that sellers are still in control. If the pair fails to regain momentum, we could see a test of lower support levels. Keep an eye on the 1.1600 mark, as a breach below could trigger further selling pressure. On the flip side, if we see a strong push above 1.1700, it might indicate a shift in sentiment, but that seems unlikely given the current bearish bias. Watch for economic data releases that could impact the Euro or the Dollar, as these could serve as catalysts for movement. The upcoming U.S. employment figures could be particularly influential, so be ready for volatility around that time.