EURUSD trades quietly, awaiting economic data for fresh direction

EURUSD remains within a narrow range, capped by Fibo resistance at 1.0933 (61.8% retracement of 1.1139/1.0601), as markets await this week’s key event—the US inflation report.

The upcoming release of German ZEW economic sentiment for July (forecast at 32.6 vs. June’s 41.8) could also influence the Euro.

The daily chart shows a predominantly bullish technical outlook (strong positive momentum and a 10-20DMA bull cross), but a decisive break above the 1.0933 pivot is needed to reignite broader bullish momentum and target key resistance in the 1.1000 zone (psychological level/Fibo 76.4%), where the pair faced strong rejection last week.

The near-term bias is expected to stay bullish as long as the price remains above the rising 10DMA (1.0901), which guards lower supports at 1.0882/70 (20DMA/broken 50% retracement). A break below these levels would weaken the near-term structure and risk a further decline.

Res: 1.0933; 1.0945; 1.0962; 1.1000
Sup: 1.0901; 1.0882; 1.0870; 1.0832