EUR/USD Recovery Stalls Below 10-DMA as ECB Rate-Hike Expectations Fade
EUR/USD’s recovery from the 2026 low of 1.1324, recorded last week, has started to fade as stronger inflation readings across several major Eurozone economies eased expectations for additional ECB rate hikes.
Investors are awaiting the release of Eurozone June CPI data tomorrow, while the U.S. June jobs report later this week is expected to provide the next major directional catalyst.
The pair may extend its rebound if it manages to clear the falling 10-day moving average at 1.1419, though bearish daily indicators suggest that upside progress could remain limited.
The 1.1500 region presents a significant hurdle, reinforced by psychological resistance, the 20-DMA, and a former support base. Unless this area is decisively broken, the broader bearish structure is likely to remain in place.
A firm break above 1.1500 would invalidate the near-term bearish outlook and open the door for a stronger recovery phase.
Res: 1.1473; 1.1500; 1.1540; 1.1600
Sup: 1.1382; 1.1354; 1.1324; 1.1290
