EURUSD is forming a small rounded bottom after testing the support zone around 1.1670. If this level holds and price breaks above the nearby FVG area, the pair may continue its recovery toward the 1.1820 target, as shown in the projected path.
Fundamentally, the euro is supported by stronger-than-expected Eurozone retail sales and rising inflation expectations ahead of this week’s CPI data (scheduled for July 10–11). Meanwhile, the USD is under pressure due to uncertainty over U.S.–EU trade policy and a lack of clarity from U.S. trade decisions, which favors a EURUSD rebound.
As long as EURUSD holds above 1.1670, the bullish outlook remains valid. However, a break below this zone could send the pair back toward the 1.1600 area.
Fundamentally, the euro is supported by stronger-than-expected Eurozone retail sales and rising inflation expectations ahead of this week’s CPI data (scheduled for July 10–11). Meanwhile, the USD is under pressure due to uncertainty over U.S.–EU trade policy and a lack of clarity from U.S. trade decisions, which favors a EURUSD rebound.
As long as EURUSD holds above 1.1670, the bullish outlook remains valid. However, a break below this zone could send the pair back toward the 1.1600 area.
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