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EUR/USD holds steady near 1.1550 after US data

EUR/USD remains range-bound at around 1.1550 in the American session on Tuesday. The cautious market stance supports the US Dollar despite the disappointing Retail Sales data, making it difficult for the pair to gain

traction.

EUR/USD Technical Overview

The EUR/USD pair peaked at 1.1581 following the release of US data, but quickly returned to the current 1.1560 area. The daily chart shows the pair is barely up, although still well-above all its moving averages. The 20 Simple Moving Average (SMA) retains its upward slope far above the 100 and 200 SMAs, in line with the dominant bullish trend. Finally, technical indicators head modestly higher, well above their midlines, lacking momentum yet still favouring an upward extension.

In the near term, and according to the 4-hour chart, EUR/USD is neutral-to-bullish. The pair is currently seesawing around a flat 20 SMA, while above bullish 100 and 200 SMAs. Technical indicators, in the meantime, aim marginally higher just above their midlines, skewing the risk to the upside without confirming another leg north.

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