A break above this level could signal a bullish breakout, pushing prices toward the next resistance at $1.30931, and potentially higher to $1.31128 or $1.31321.
However, immediate support lies at $1.30338, and a fall below could push the pair toward $1.30132.
For now, the price action remains neutral, with traders keeping an eye on a potential breakout. A bullish move above $1.30666 could shift sentiment toward the upside.
Euro Stagnates Amid Mixed German Economic Data
The euro remains steady as German wholesale prices declined by 0.3%, slightly better than the prior 0.8% drop. Meanwhile, French final CPI held at -1.2%, reflecting ongoing deflationary pressures.
Investors are now focusing on Germany’s ZEW Economic Sentiment report, expected at 10.2, and Eurozone Industrial Production, forecasted to rise by 1.8%. These key indicators will shape the euro’s short-term trajectory.
EUR/USD Technical Forecast
The EUR/USD is trading at $1.08916, with a bearish tone as it remains within a downward channel. Immediate support is seen at $1.08852, and a break below could push prices toward $1.08666.
