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25/09/25
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EUR/USD Dips Near 1.1750 as Traders Await U.S. Data
The EUR/USD currency pair continues to trade within a narrow range at approximately 1.1750, following a setback earlier in the week that saw the pair decline over 0.6%, erasing its recent gains. As traders await key U.S. economic indicators scheduled for release later today, technical analysis suggests that the current bearish momentum may persist in the near term.
Market sentiment soured midweek, with the U.S. dollar strengthening against major currencies amid a broader decline in risk appetite. Positive U.S. housing market data — demonstrating a notable 20.5% rise in New Home Sales for August — also contributed to the dollar’s gains. Conversely, remarks from Federal Reserve officials emphasizing caution regarding aggressive rate cuts underpinned the dollar’s resilience amid uncertainties surrounding the Federal Reserve’s monetary trajectory.
Later today, attention will be on the release of several significant U.S. economic reports, including August Durable Goods Orders, weekly Initial Jobless Claims, and the second estimate of Q2 GDP. A decrease in unemployment claims could bolster the dollar, particularly if Durable Goods Orders exceed the expected decline of 0.5%. Better-than-anticipated figures may support continued dollar strength, while weaker data could cap its gains.
On the technical front, the pair’s RSI remains near 40 on the four-hour chart, indicating subdued momentum. Price action is slightly below the 100-period and 20-day simple moving averages, both aligned around the 1.1750 level — serving as current resistance. Support levels are identified around 1.1700, corresponding to the 200-period moving average and a key Fibonacci retracement level, with further downside protection near 1.1640.
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