EUR/USD Technical Setup Hinges on Dollar Index Direction
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EUR/USD price action continues to track broader dollar index movement, which itself is being shaped by risk-on flows into equities rather than fresh eurozone catalysts.
As capital chases growth stories in chips and AI infrastructure, the dollar has struggled to attract fresh safe-haven bids, a pattern that traders should watch closely for confirmation of sustained EUR/USD upside momentum. A break above near-term resistance would strengthen the bullish structure.
Failure to hold gains, however, could signal that dollar demand remains resilient beneath the surface, keeping EUR/USD range-bound until a clearer directional catalyst emerges.