EUR/USD is slightly down by 0.10% at 1.0760 in Tuesday’s European session.
EUR/USD consolidates around 1.0770 after correcting from 1.0800 as investors expect the ECB to reduce interest rates from June. ECB Stournaras’s projection of three rate cuts this year is aligned with market expectations. The speculation for the Fed lowering interest rates from September has strengthened. The shared currency pair is broadly sideways around 1.0770 amid indecisiveness among investors due to the absence of high-tier data in the United States and the Eurozone.
0770 EUR/USD trades in a narrow range around 1.0770. The major currency pair struggles for a direction amid an absence of top-tier economic events. The overall trend in the major is also sideways due to a Symmetrical Triangle formation on a daily timeframe. EUR/USD exhibits a sharp volatility contraction due to a Symmetrical Triangle formation on a daily timeframe. The upward-sloping border of the triangle pattern is plotted from October 3 low at 1.
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