The EUR/USD pair is currently in a consolidative phase around the 1.0400 level. This means that the currency pair is trading within a narrow range as traders assess the market conditions. The consolidation around this key level suggests that there is uncertainty in the market, and traders are waiting for more clarity before making any significant moves.
The 1.0400 level is an important support level for the EUR/USD pair, and if it holds, we could see a bounce back towards higher levels. On the other hand, if the pair breaks below this level, it could indicate further downside potential.
Overall, the EUR/USD pair is currently in a consolidation phase as traders wait for more clarity in the market. The 1.0400 level will be a key level to watch in the coming days as it could determine the direction of the pair in the near term.