The currency pair rises near 1.1535 amid de-escalation in US-Iran tensions and ahead of key German and US data releases.
The EUR/USD pair climbed to 1.1535 in early European trading, supported by reports that US-Iran negotiations would proceed after a planned military strike was canceled. Improved risk sentiment lifted the Euro against the US Dollar, though gains remain limited below the 100-day simple moving average at 1.1569.
Traders are awaiting German Retail Sales data for June and the US ISM Manufacturing PMI, both due later today. Weak German figures could pressure the Euro, while US data may influence Fed policy expectations. The pair’s technical outlook remains cautious, with the Relative Strength Index at 62.5 signaling short-term momentum but resistance holding firm.
Immediate support lies at 1.1529, with deeper levels at 1.1430 and 1.1331. A break above 1.1569 would be needed to shift the broader bearish bias.