Euro's Hawkish Wind: EUR/USD Seeks Break Above 1.1620

The EUR/USD pair is currently trading at 1.1536, marginally higher on the day and up roughly 0.18%.

This comes after four failed attempts to break above the 100-day simple moving average at 1.1570.

The eurozone's Q2 GDP grew 0.4%, its fastest pace since early 2025, which is a positive development for the euro.

However, the immediate cap on the pair remains stacked, with specific resistance levels at 1.1550, 1.1580, and 1.1590.

A break above 1.1620 targets 1.1712, but losing 1.1513 opens up the 1.1440-1.1460 zone as a potential support level.