Forex
EUR/USD Capped Below 1.1700 as Dollar Strength Persists
The EUR/USD currency pair has struggled to break above the 1.1700 level due to persistent dollar strength and shifting interest rate expectations.
According to technical analysis, the 1.1700 level has acted as a strong ceiling since early August, with each attempt to rally met with selling pressure.
The current range of EUR/USD has been narrow, with support at 1.1650 and resistance at 1.1700, reflecting a market in consolidation.
Key data releases this week could determine whether the pair breaks out of its range, including inflation figures and jobless claims from the U.S., as well as PMI readings and ECB economic projections from the eurozone.