EUR/USD gains as US rate cut delay weakens dollar; resistance at 1.0875
EUR/USD is building upside momentum, appreciating 0.4% to 1.0865 as the US dollar weakens on expectations of a delayed Fed rate cut. The dollar index (DXY) has retreated 0.3% to 103.20. Recent US economic data, including lower-than-expected retail sales (-0.4% vs. +0.1% forecast) and industrial production (-0.5% vs. -0.1% forecast), have fueled concerns about slowing growth and reduced the urgency for near-term rate cuts. EUR/USD faces immediate resistance at 1.0875, with a break above exposing the 1.0900 handle. Support lies at 1.0820 (200-day moving average). Traders should watch for any shifts in Fed rhetoric or surprises in upcoming US data, which could alter rate cut timing expectations and drive EUR/USD price action.
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