ECB expected to hold interest rates as traders focus on Lagarde’s policy outlook
Since early June 2025, the EUR/USD pair has been trading within a broad horizontal range, with no clear trend. In the daily chart, the pair sits just under the 100-day Simple Moving Average (SMA) at 1.1710 while holding above the 200-day SMA at 1.1676 and the 50-day SMA at 1.1650, leaving the near-term tone broadly neutral with a slight constructive bias as long as these underlying averages hold. The Relative Strength Index (RSI) has eased back toward the low-50s, hinting at waning upside momentum after the recent recovery but not yet signalling overbought or oversold conditions. On the topside, immediate resistance emerges at the 100-day SMA around 1.1710, with a more significant cap aligned with the downward resistance trend line near 1.1823, where the broader corrective structure would be challenged. On the downside, initial support is seen around the 200-day SMA at 1.1676, ahead of the 50-day SMA near 1.1650, where a break would likely expose a deeper pullback and undermine the current mild bullish bias. Central banks FAQs Central Banks have a key mandate which is making sure that there is price stability in a country or region. Economies are constantly facing inflation or deflation when prices for certain goods and services