DeGRAM | EURUSD — Bullish Momentum Targets 1.1280 Resistance

#EUR/USD#

📊 Technical Analysis
● EURUSD is consolidating inside a narrowing wedge after rebounding from the 1.1160 support area. The rising support line continues to hold, while descending resistance limits the recovery.
● Short-term technical indicators have turned bullish, with 9 Buy signals against 1 Sell on Investing.com. However, the broader moving-average structure remains bearish, suggesting the current recovery could still be a correction within the prevailing downtrend. Investing.com
● A breakout above the wedge could push the pair toward the 1.1270–1.1280 resistance zone. Holding the rising support is crucial for this scenario, while a breakdown would expose the recent lows again.

💡 Fundamental Analysis
● The US dollar remains near an 18-month high as geopolitical tensions and concerns over global inflation sustain demand for the safe-haven currency. This continues to weigh on the euro's recovery potential.
● French fiscal instability remains a key source of pressure on the euro. Political uncertainty and concerns over public debt are limiting confidence in the single currency, even as EURUSD attempts to stabilize.
● Markets are now focused on Wednesday's US CPI report, which could reshape expectations for the Federal Reserve's next policy moves. Softer inflation could weaken the dollar and support a breakout, while a stronger reading could reinforce selling pressure on EURUSD.

✨ Summary
● EURUSD is showing improving short-term momentum inside a narrowing wedge, with 1.1270–1.1280 as the main upside target. A confirmed breakout would strengthen the recovery scenario, although dollar strength and the broader bearish trend remain significant obstacles.

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