The EUR/USD pair remains in a consolidative phase near the 1.0400 level, reflecting cautious market sentiment ahead of key economic data releases. Despite fluctuating within a narrow range, the pair shows limited directional bias as traders await fresh catalysts from the U.S. and Eurozone economic landscapes.
Source – FXStreet
Market participants are closely monitoring U.S. GDP data and remarks from Federal Reserve officials, which could offer clues on the trajectory of interest rates. Similarly, Eurozone inflation figures expected later this week may influence the euro’s performance against the dollar. With the 1.0400 level acting as a psychological anchor, any breakout could signal a shift in momentum, but for now, the pair remains in limbo.
This phase underscores the delicate balance between bullish and bearish forces in the currency market, leaving traders searching for decisive indicators to chart the next move.
