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The EUR/USD pair declines to around 1.1730 during the early European session on Wednesday, pressured by renewed US Dollar (USD) demand. Nonetheless, the potential downside for the major pair might be limited amid the growing acceptance that the European Central Bank (ECB) is done cutting interest rates. The ECB is expected to hold interest rates steady at its December meeting on Thursday. The central bank has kept its key deposit rate on hold at 2% since July. Across the pond, the mixed US employment report for November showed that the US labor market remains relatively resilient but shows signs of slowing. This, in turn, could drag the Greenback lower and create a tailwind for the major pair. The US Nonfarm Payrolls (NFP) rose by 64,000 in November after falling by 105,000 in October. This figure came in better than the estimates of 50,000. Meanwhile, the Unemployment Rate in the US ticked higher to 4.6% in November from 4.4% in October. Technical Analysis: In the daily chart, EUR/USD trades at 1.1732. The 100-EMA nudges higher at 1.1611, with price holding above it and sustaining an upward bias. The 20-period average inside the Bollinger bands advances near 1.1639, supporting shallow pullbacks. Price leans toward the upper band, and the bands are widening, indicating firm bullish pressure alongside rising volatility. RSI at 65.58 shows solid bullish momentum while not yet overbought. Immediate resistance stands at the upper Bollinger Band at 1.1788, whereas support is set at the middle band at 1.1639 and the 100-EMA at 1.1611. A break higher could open the door to an extension of the advance, while failure to clear resistance would keep the pair capped and invite a retracement toward support. (The technical analysis of this story was written with the help of an AI tool) ECB FAQs The European…

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Filed under: News - @ December 17, 2025 5:24 am