EUR/USD is trading at 1.1667, after hitting an intraday high of 1.1675 and a low of 1.1652. The pair continues to hover just above short-term moving averages, with the 15-day moving average at 1.1659 and the 20-day moving average at 1.1662, both flattening out, reflecting consolidation after a strong rally.
Bias: Mild Bullish Consolidation
As long as the pair holds above 1.1600, the pair remains biased to the upside, with 1.1700 the level to beat. A clean breakout would open the way for a push toward 1.1800. Conversely, a sustained break below 1.1600 could trigger deeper pullbacks to 1.1500.
Patience may be key. Buying dips near 1.1630-1.1600 with tight stops could offer favourable setups, while momentum traders should wait for a confirmed break above 1.1700 before chasing higher. Range-trading strategies remain valid until a catalyst drives resolution.
