The EUR/USD pair experienced a relatively quiet week, with downward momentum stalling after reaching a low of 1.0665. While the near-term outlook remains bearish due to prior strong selling, there’s a noticeable loss of momentum. The pair is currently holding above the 1.0600 support zone, and although a deeper correction could still be on the table, indicators suggest that selling pressure may be easing, especially if the pair manages to rebound above the 1.0750 resistance level. A break above that could open a path toward 1.0887, while sustained weakness below 1.0600 would reaffirm bearish control.
From a broader perspective, the overall trend remains more neutral than decisively bearish or bullish. The failure to sustain gains above 1.0900 earlier this month signaled hesitation by bulls, reinforcing the significance of upcoming economic updates from both the U.S. and Eurozone. Longer-term momentum suggests the pair is caught in a consolidation phase, and future direction may hinge on how the ECB and Fed evolve their policy stances. Traders will closely monitor upcoming inflation and employment data to gauge sentiment and the likelihood of interest rate shifts that could break the current stalemate.
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