EUR/USD remains little changed on the day. Spot is trading flat and holding within yesterday’s range in the wait of the upcoming FOMC, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Technicals lean bullish
“Markets are awaiting for the FOMC and there was no incentive to push spot one way or the other. Final Eurozone August inflation was revised marginally lower to 0.1% M/M (from 0.2%) while the Y/Y measure was unrevised at 2.2% (down from 2.6%).”
“Spot is holding its bullish break out from its August/September consolidation range (bull flag) on the daily chart. Trend momentum signals are aligned bullishly on the intraday, daily and weekly DMI studies, tilting technical risks clearly towards EUR gains.”
“Resistance is 1.12 and 1.1275 in the short run. Support is 1.1100/10 and 1.1050. Sustained gains above 1.1110 through the end of the week will tilt medium term risks higher.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

EUR/USD retests daily lows near 1.0850 on softer US PPI
EUR/USD remains on the defensive against the backdrop of another positive day in the US Dollar, always amid intense tariff jitters and weaker-than-expected US Producer Prices in February.

Gold extends weekly uptrend, closes in on $2,950
Gold continues to push higher toward $2,950 after closing the previous two days in positive territory. The precious metal benefits from the risk-averse market atmosphere as investors grow increasingly concerned about trade wars causing an economic downturn.

GBP/USD stay defensive near 1.2950 as risk-off mood persists
GBP/USD is on the defensive near 1.2950 in the European session on Thursday. The pair faces headwinds from intensifying tariff war globally and a pause in the US Dollar downtrend. Traders look forward to the US PPI data for fresh directional impetus.

Metaverse narrative stalls as price action fades, but on-chain data signals continuing accumulation
Metaverse tokens are cryptocurrencies associated with virtual worlds, digital economies, and immersive online experiences. Tokens like Sandbox, Decentraland, and Axie Infinity, three of the most prominent assets during the Metaverse boom of 2021, continue to face correction since they topped in early December.

Brexit revisited: Why closer UK-EU ties won’t lessen Britain’s squeezed public finances
The UK government desperately needs higher economic growth as it grapples with spending cuts and potential tax rises later this year. A reset of UK-EU economic ties would help, and sweeping changes are becoming more likely.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.