EUR/USD is stuck in a tight range around 1.0850 in Wednesday’s European session.
EUR/USD treads cautiously as investors shift focus to the FOMC minutes. ECB policymakers are divided about continuing the dovish trend beyond the June meeting. Fed officials want to see inflation easing for months before lowering interest rates.
The shared currency pair is broadly firm as it holds the Symmetrical Triangle breakout that formed on a daily timeframe. Also, a bullish crossover of the 20-day and 50-day Exponential Moving Averages around 1.0780 has improved the near-term outlook of the shared currency pair. The 14-period Relative Strength Index has shifted comfortably into the bullish range of 60.00-80.00, suggesting that the momentum has leaned toward the upside.
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