Analysts see potential for EUR/USD to test 1.1610 but consider a drop to 1.1590 unlikely in the near term.
EUR/USD settled near 1.1625 after briefly spiking to 1.1660, showing little net change. Analysts note a mild downside bias, with momentum suggesting a possible test of 1.1610 support levels.
The pair has remained within a tight range, with 1.1590 identified as a key support level unlikely to be breached soon. Recent price action reflects subdued volatility, with no significant breakout observed.
Market focus remains on near-term momentum, though broader trends suggest consolidation rather than a sharp directional move.