Forex
EUR/USD Stuck at Resistance as ECB Rate Hike Looms
The EUR/USD pair trades at 1.1536 in Wednesday's European session, up roughly 0.18% on the day.
The pair pushed toward 1.1550 in early hours but settled back into its established zone, with resistance tested directly at 1.1535 to 1.1516 and held.
The immediate cap is stacked, with specific levels including the Bollinger upper band near 1.1550 and the 100-day simple moving average around 1.1570.
The pair has not closed above the 100-day average once during this advance, keeping the daily bias technically bearish despite four consecutive weeks of grinding gains.