EURUSD

Key Indicators

• Technical indicators suggest a weakening in bullish traction. Therefore, we could see some further consolidation before the next leg up.

Fundamental Context

The currency pair slightly rebounded from the early losses. As of this writing, the pair trades at 1.1660. Short-term price action shows a rebound from local lows, but upside momentum seems limited. Going ahead, a decisive breakout on either side of the current range is likely to determine the next directional move in the pair.