EUR/USD continues to respect the bullish outlook we highlighted previously. After finding strong support around 1.1360–1.1380, buyers stepped back in and pushed the pair above the 1.1470–1.1500 resistance zone, which has now turned into support.

Price is now approaching the next key resistance between 1.1580 and 1.1610. A successful break above this area could open the door for a move towards 1.1650.

From a fundamental perspective, traders remain focused on Federal Reserve expectations and upcoming U.S. inflation data. These events are likely to determine whether the U.S. dollar strengthens further or if EUR/USD has enough momentum to extend its rally.

Outlook: Bullish while price remains above 1.1470–1.1500.

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