#URO #USD The EUR/USD pair is trading near 1.1630. The euro holds a mildly bullish near-term tone ahead of key central bank policy decisions and upcoming economic indicators.
Key Drivers & Market Focus
ECB Interest Rate Decision: Markets are focused on the European Central Bank's upcoming policy meeting, where a rate decision will set the tone for near-term euro momentum.
US Inflation Metrics: Investors are awaiting upcoming US inflation releases, including the Producer Price Index (PPI) and Consumer Price Index (CPI), to gauge the size and scope of potential US Federal Reserve rate adjustments.
Broad USD Dynamics: The US dollar faces modest downside pressure against major currencies amid evolving expectations around global central bank divergence.
Key Technical Levels
Resistance: 1.1700 (Upper Bollinger Band ceiling)
Pivot/Support: 1.1625 (20-day moving average/Bollinger middle band)
Secondary Support: 1.1560 (100-day simple moving average)