Analysts expect EUR/USD to consolidate between 1.1480 and 1.1580 over the next 1-3 weeks after failed upside momentum.
EUR/USD spiked to 1.1562 following US CPI data before reversing to close at 1.1524, erasing earlier gains. The pair’s upward momentum has faded, with pullback risks now contained within a 1.1510–1.1545 intraday range.
Prior to the CPI release, EUR/USD traded quietly, closing largely unchanged at 1.1540. Analysts had expected a range of 1.1530–1.1560 but noted a break above 1.1560 could target 1.1580. The subsequent drop suggests limited downside momentum, with support at 1.1515 still intact.
Over the next 1-3 weeks, the pair is likely to trade between 1.1480 and 1.1580, as upward momentum has weakened. A close above 1.1580 would be needed to revive bullish sentiment.