EUR/USD wavers within recent ranges with all eyes on US CPI data

💡 DMK Insight

EUR/USD’s flat performance at 1.1665 signals indecision, but here’s why traders should pay attention: After bouncing off the 1.1655 support level, the pair is caught in a tight range, reflecting market uncertainty ahead of key economic data releases. Traders should watch for potential volatility as the Eurozone’s economic indicators are due soon, which could sway the pair decisively. If the pair breaks below 1.1655, it might trigger further selling pressure, while a push above 1.1700 could signal a bullish reversal. The current price action suggests that both buyers and sellers are waiting for a catalyst, making it crucial to monitor upcoming news and sentiment shifts. On the flip side, if the broader market sentiment shifts negatively due to geopolitical tensions or disappointing economic data, we could see a stronger dollar, which would weigh on EUR/USD. Keep an eye on the U.S. economic releases as well, as they could provide the necessary impetus for a breakout in either direction.