EUR/USD Stalls Ahead of Holiday Season
EUR/USD continues to trade within a narrow range around 1.0400 - 1.0430, showing no clear breakout signals. On the 4-hour chart, strong resistance at 1.0440 - 1.0450 is reinforced by the EMA 34 (1.0431) and EMA 89 (1.0477), while key support lies at 1.0340 - 1.0350, a zone where the price previously rebounded.
The current sideways movement reflects the tug-of-war between buyers and sellers in a low-liquidity market ahead of the holiday season. Fundamentally, the USD remains supported by expectations that the Fed will take a cautious approach to rate cuts in 2025. Meanwhile, comments from ECB President Lagarde suggesting Eurozone inflation is "very close" to the 2% target have failed to provide sufficient support for the Euro, leaving EUR/USD confined to familiar trading ranges.
If EUR/USD fails to break above 1.0450, selling pressure could push the pair down to retest the 1.0340 support level or lower. Conversely, a successful breakout above resistance would target the next level at 1.0470.
The current sideways movement reflects the tug-of-war between buyers and sellers in a low-liquidity market ahead of the holiday season. Fundamentally, the USD remains supported by expectations that the Fed will take a cautious approach to rate cuts in 2025. Meanwhile, comments from ECB President Lagarde suggesting Eurozone inflation is "very close" to the 2% target have failed to provide sufficient support for the Euro, leaving EUR/USD confined to familiar trading ranges.
If EUR/USD fails to break above 1.0450, selling pressure could push the pair down to retest the 1.0340 support level or lower. Conversely, a successful breakout above resistance would target the next level at 1.0470.
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