EUR/USD Trapped in Bearish Consolidation

The EUR/USD exchange rate has been under sustained technical weakness, and recent data suggests that further declines are likely. The pair is trading at $1.1226, down 0.92% from the previous day's close, and continues to trade below its key moving averages.

The US Dollar is attracting capital inflows due to rising Treasury yields, with the 10-year yield nearing 5.30%, its highest level since 2002. This has increased demand for USD-denominated assets and contributed to tighter financial conditions.

Technical indicators are firmly bearish, with momentum signals remaining weak. The Ichimoku Kijun level at $1.129 is acting as immediate resistance, while primary support is seen at $1.117.