The currency pair remains subdued after a US Dollar recovery following last week’s sharp decline.
The Euro trades at 1.1550 against the US Dollar in early European trading, retreating slightly as the greenback regains ground. The pair had previously fallen after a strong Dollar rebound from multi-session lows, reversing some of last week’s gains.
Earlier, EUR/USD tested resistance near 1.1600, with analysts eyeing a potential move toward 1.1620 if bullish momentum resumes. The Dollar’s recovery follows a period of weakness driven by softer US economic data and shifting Fed rate cut expectations.
Market focus remains on upcoming inflation reports and central bank commentary, which could influence near-term direction for the pair.