EUR/USD is still hanging below the 1.1600 mark — not exactly a great look for the euro right now.
The main pressure? Uncertainty around Europe’s economy and delays in U.S. data releases caused by the shutdown.
Here’s the thing though — if the U.S. dollar starts to cool off once the shutdown ends, EUR/USD could have room to bounce. But if the dollar stays strong, we might be heading lower, maybe toward that 1.1400 zone.
It’s one of those “wait and see” setups — worth watching how the USD behaves once things in D.C. finally settle.
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