EUR/USD trapped between 1.0663-1.0691 support and MA resistance

EUR/USD continues to trade within a tight range, finding solid support between 1.0663 and 1.0691, a critical technical zone established during April-November 2021. The pair has tested this support area multiple times this week, with buyers consistently defending these levels, reinforcing its importance as a technical floor. On the upside, moving average resistance is capping gains, creating a compression pattern that suggests an impending directional breakout. The repeated tests of support indicate accumulation, though the inability to break higher suggests lingering selling pressure. Technical traders are closely monitoring for a decisive break of either boundary, which could trigger accelerated momentum. A sustained break below 1.0663 would expose the 1.0600 psychological level, while a push above the moving average resistance could target 1.0750. The current consolidation phase reflects market indecision ahead of upcoming economic data releases.