Euro Technical Forecast: EUR/USD continues to face a battle at resistance levels. The currency pair is locked in a tug-of-war, with neither bulls nor bears gaining a clear upper hand.
EUR/USD has been struggling to break above key resistance levels, indicating a lack of strong momentum in either direction. The pair remains range-bound as traders weigh the impact of economic data and geopolitical events.
Technical indicators suggest that the euro may face further resistance in the near term. The 50-day moving average is providing support for the pair, but the 100-day moving average is acting as a barrier to further gains.
Traders will be closely watching upcoming economic data releases and central bank announcements for clues on the direction of the EUR/USD pair. Any surprises could trigger a breakout in either direction.
Overall, the EUR/USD pair remains in a tight range, with both bulls and bears struggling for control. Traders should exercise caution and closely monitor key technical levels for any signs of a breakout.