Continue moving within a narrow range
The USD remains strong as the Federal Reserve (Fed) maintains its high-interest rate policy to curb inflation. Although there are signs that U.S. economic growth may be slowing, the Fed is still expected to keep interest rates high for at least the next few months. This continues to make the USD attractive, which makes it difficult for the EUR/USD pair to break through higher resistance levels.
Meanwhile, in the Eurozone, inflation remains a concern. While the European Central Bank (ECB) may continue its tightening monetary policy, weak economic growth in the region could reduce the strength of the Euro in the short term. Economic data from the Eurozone has not shown significant improvement, further pressuring the EUR against the USD.
Currently, looking at the chart, the EUR/USD pair is trading around 1.0392, and there is no clear trend in the short term. However, based on the current situation, I predict the pair is likely to continue moving within a narrow range, potentially dipping to the support level at 1.0387. If EUR/USD fails to hold above this level, the pair may decline further towards 1.0358 or lower.
Meanwhile, in the Eurozone, inflation remains a concern. While the European Central Bank (ECB) may continue its tightening monetary policy, weak economic growth in the region could reduce the strength of the Euro in the short term. Economic data from the Eurozone has not shown significant improvement, further pressuring the EUR against the USD.
Currently, looking at the chart, the EUR/USD pair is trading around 1.0392, and there is no clear trend in the short term. However, based on the current situation, I predict the pair is likely to continue moving within a narrow range, potentially dipping to the support level at 1.0387. If EUR/USD fails to hold above this level, the pair may decline further towards 1.0358 or lower.
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