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EUR/USD Consolidates Near $1.1400 Amid U.S. Data Anticipation and Trade Tensions
EUR/USD Consolidates Near $1.1400 Amid U.S. Data Anticipation and Trade Tensions
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The EUR/USD pair hovers at $1.1390 as markets adopt a cautious stance ahead of pivotal U.S. economic data releases. Trade tensions resurface following U.S. Treasury Secretary Scott Bessent’s remarks, placing the onus on China to restart negotiations.
Technically, the currency pair is trapped within a symmetrical triangle formation, signaling potential volatility. Resistance looms at $1.1425 with support at $1.1377. Traders await confirmation of either breakout or breakdown before committing to positions.
The U.S. Dollar Index edges up to 99.14, reflecting lingering risk aversion. market participants are scrutinizing upcoming economic indicators for directional cues amid the current geopolitical uncertainty.
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