EURUSD

EURUSD is trading within a bearish consolidation structure. The intraday price action remains range-bound, with the most recent swing high at 1.1470 and the most recent swing low at 1.1360. Despite the consolidation, the support cluster around 1.1360/50 could offer a solid base for a bounce.

Key Indicators

• Price action remains weak. However, price is approaching a key area of interest, where horizontal support aligns with the 1.1350 zone, which could act as a demand area.

• The upward correction structure is still supportive.

Fundamental Context

Fundamentally, the sustainability of any gains in the euro for this week will largely depend on the US dollar’s performance, the upcoming CPI data, and geopolitical developments.