EUR/USD: Dip Buyers Target Upside as Dollar Weakness Persists

EUR/USD is showing bullish momentum as dip buyers emerge amid persistent dollar weakness ahead of the upcoming Federal Reserve decision. The pair has found solid support above 1.0500, with buyers stepping in on every minor pullback. The US Dollar Index has retreated from recent highs, pressured by growing expectations of a Fed rate cut this week, with markets pricing in a 95% probability of a 25 basis point reduction. Technical indicators suggest the pair could extend gains toward 1.0650 resistance if the current support holds. The 50-day moving average at 1.0580 is providing dynamic resistance, while the 1.0500 psychological level acts as key support. Traders are positioning for potential dollar weakness post-Fed, though any hawkish surprise could quickly reverse the current bullish setup. The overall market structure favors EUR/USD buyers as long as the pair maintains above the 1.0480 support zone.