EUR/USD is currently consolidating around the 1.1510 support zone after a mild pullback from the descending trendline. Price structure remains bullish, with a wedge pattern forming — signaling that a breakout could be imminent.
On the news front, expectations that the Fed may soon begin cutting rates — following a series of weak U.S. economic data — are weighing on the U.S. dollar. At the same time, easing geopolitical tensions are shifting market sentiment back toward risk assets.
If the 1.1510 support level holds firm, EUR/USD may stage a strong rebound to resume its upward momentum.
On the news front, expectations that the Fed may soon begin cutting rates — following a series of weak U.S. economic data — are weighing on the U.S. dollar. At the same time, easing geopolitical tensions are shifting market sentiment back toward risk assets.
If the 1.1510 support level holds firm, EUR/USD may stage a strong rebound to resume its upward momentum.
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