The EUR/USD pair has experienced a decline, with the Euro weakening against the US Dollar. The market’s focus remains on the Federal Reserve’s monetary policy outlook, with expectations for interest rate cuts in September increasing.

The Eurozone economy has shown signs of weakness, with the recent release of inflation data indicating a decline in price pressures. The ECB is expected to cut interest rates further to address inflationary pressures and support economic growth.

EUR/USD Technical Outlook

The EUR/USD pair has shown a short-term downtrend, with the 1.1000 level acting as a key support. A break below this level could signal a further decline, with potential targets at 1.0950 and lower. However, the pair’s recent recovery and the bullish momentum indicator suggest a potential for a short-term rebound.