The latest developments of the EURUSD currency pairCurrently, EURUSD is trading within a narrow range after experiencing significant volatility in recent sessions.
Investors are awaiting clear signals from the Fed regarding monetary policy and the latest economic data to guide market direction.
EURUSD is currently fluctuating around the 1.2150 level, near important support and resistance levels.
The MACD indicator shows ambiguous signals regarding the direction of this currency pair.
Other indicators like RSI and Bollinger Bands indicate that the market is in a consolidation phase and waiting for further cues.
In the short-term forecast, EURUSD may face downward pressure if the Fed announces stronger-than-expected support signals for the USD.