EUR/USD found slim upside on Monday, climbing from early bids near 1.0770 but bullish momentum remains limited with the pair struggling to break above the 1.0800 level.
Final Euro inflation figures to be overshadowed by US CPI inflation print. Fed Chair Jerome Powell due to speak on Tuesday. US consumer inflation expectations rose again, complicating the path to rate cuts. German final Harmonized Index of Consumer Prices inflation figures are due during the European market session, but the mid-tier final inflation print is unlikely to drive market volatility unless inflation numbers see late adjustments compared to the preliminary figures.
EUR/USD technical outlook EUR/USD continues to trade into the high end after a bounce-and-run from the 200-hour Exponential Moving Average last week near 1.0730. Bullish potential remains capped by a near-term supply zone above the 1.0800 handle. Daily candlesticks show the EUR/USD trading into firm technical resistance at the 200-day EMA at 1.0789, a failed launch from bidders could see the pair falling back into the last swing low near 1.0600.
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